{"id":516,"date":"2012-10-07T21:48:34","date_gmt":"2012-10-07T21:48:34","guid":{"rendered":"https:\/\/eagleoneresources.com\/?p=516"},"modified":"2012-10-07T21:48:34","modified_gmt":"2012-10-07T21:48:34","slug":"do-you-insure-the-goose-that-lays-golden-eggs-or-do-you-insure-the-eggs","status":"publish","type":"post","link":"https:\/\/eagleoneresources.com\/?p=516","title":{"rendered":"Do You Insure the Goose that Lays Golden Eggs; or, Do You Insure the Eggs?"},"content":{"rendered":"
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If you owned a goose that laid golden eggs and you could only buy one insurance policy, would you insure the goose or the eggs?\u00a0 Most people are likely to answer this question by stating that (obviously) they would insure the goose.\u00a0 So, let’s consider a variation on this question.<\/p>\n

Have you thought lately about your most prized possessions; your most valuable assets?\u00a0 Do you know what they are?\u00a0 Most people are likely to answer this question by saying “yes” and then listing items such as houses, cars, boats, jewelry.\u00a0 These things are valuable and that’s why people buy homeowners insurance, car insurance, and boat insurance.\u00a0 However, let’s consider another asset that is, without a doubt, far more valuable than any of those things mentioned above … your ability to get out of bed each day and go to work and earn a living.<\/p>\n

If you get sick or are hurt and incapable of working, how do you protect the paycheck upon which you and your family depend for food, shelter, water, electricity, and clothing?\u00a0 Prudence dictates that we cannot rely upon the good will and charity of others to care for our loved ones.\u00a0 That responsibility is ours and ours alone.\u00a0 Surely there must be a way to protect ourselves and our families from this potential calamity!\u00a0 Fortunately, there is!\u00a0 It’s called Disability Income Insurance (DI for short).<\/p>\n

DI pays a percentage of your income while you are unable to work due to accident, injury, or illness.\u00a0 Generally speaking, that percentage is 60% to 70%.\u00a0 People often ask why it doesn’t replace 100%.\u00a0 After all, most people today rely on all 100% of their income to keep the bills paid and food on the table.\u00a0 The reason is really very simple.\u00a0 Consider a person we’ll call Mark.<\/p>\n

Mark is one of those fortunate people who really enjoys his job.\u00a0 He wakes up each morning with a smile on his face and looks forward to the interaction with others that his job provides.\u00a0 That’s not to say that Mark doesn’t have hobbies and interests that he’d like to pursue.\u00a0 Oh no!\u00a0 There are days he’d love to go fishing if only he didn’t have to go to work.<\/p>\n

Now, let’s suppose that Mark gets hurt one day.\u00a0 It’s bad enough that he can’t do his job; but, not so bad that he can’t go fishing.\u00a0 If Mark is collecting 100% of his income while he goes fishing, he has no real incentive to get better quickly.\u00a0 But, if he’s only receiving 70% of his normal pay, he has a great incentive to recover as quickly as possible.<\/em><\/p>\n

Disability insurance can be a very real financial life saver and should be a part of everyone’s financial protection portfolio.\u00a0 In the days to come, we’ll take a look at key components that should be considered when purchasing Disability Income Insurance.<\/p>\n","protected":false},"excerpt":{"rendered":"

If you owned a goose that laid golden eggs and you could only buy one insurance policy, would you insure the goose or the eggs?\u00a0 Most people are likely to answer this question by stating that (obviously) they would insure the goose.\u00a0 So, let’s consider a variation on this question. Have you thought lately about […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_s2mail":"","footnotes":""},"categories":[69,70,44,71,13,35],"tags":[94,73,72,27,95,14,25,22,28],"class_list":["post-516","post","type-post","status-publish","format-standard","hentry","category-disability-income-insurance","category-disability-income-protection","category-financial-planning","category-insuring-your-paycheck","category-money-management","category-personal-finances-2","tag-disability-income-insurance","tag-disability-income-protectin","tag-disability-insurance","tag-getting-the-most-for-you-money","tag-insuring-your-paycheck","tag-money","tag-money-management-2","tag-money-safety","tag-personal-finances"],"_links":{"self":[{"href":"https:\/\/eagleoneresources.com\/index.php?rest_route=\/wp\/v2\/posts\/516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eagleoneresources.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eagleoneresources.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eagleoneresources.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/eagleoneresources.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=516"}],"version-history":[{"count":2,"href":"https:\/\/eagleoneresources.com\/index.php?rest_route=\/wp\/v2\/posts\/516\/revisions"}],"predecessor-version":[{"id":518,"href":"https:\/\/eagleoneresources.com\/index.php?rest_route=\/wp\/v2\/posts\/516\/revisions\/518"}],"wp:attachment":[{"href":"https:\/\/eagleoneresources.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eagleoneresources.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eagleoneresources.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}