accidents and illnesses are facts of life
DESCRIPTION
Accidents And Illnesses Are Facts Of Life. They Can Happen To Anyone At Any Time. Let’s Consider The Following:. - PowerPoint PPT PresentationTRANSCRIPT
2
Accidents And Illnesses Are Facts Of Life.
They Can Happen To Anyone At Any Time.
3
Let’s Consider The Following:
What do you think your chances are of becoming disabled for 90 days or longer at least once prior to age 65?
1 in 3
The average length of a disability which lasts over 90 days is?
2.9 years
Sources: 1985 Commissioner’s Disability Table A (Experience Table) & CIA 86-92 Aggregate Mortality Table.
4
It’s Like Your Future Is Hidden
Behind One Of Three Doors.Two of them lead to good health.
The other leads to disability.Pick the wrong door and you lose.Are you willing to play those odds?Can you afford to let that happen?
5
Of 1,000 Males Or Females, How Many Will Be Disabled For 90 Days Or More Before
Age 65?
0
50
100
150
200
250
300
350
400
450
500
25 30 35 40 45 50 55 60Age
Num
ber
of
Peo
ple
Male
Female
Sources: 1985 Commissioner’s Disability Table A (Experience Table) & CIA 86-92 Aggregate Mortality Table.
6
In A Year What Are The Odds Between Death And A
Disability That Lasts At Least 90
Days?
1111
4
6.9
9.5
12.2
0
2
4
6
8
10
12
14
Age 25 Age 35 Age 45 Age 55
Num
ber o
f Peo
ple Death
Disability
Sources: 1985 Commissioner’s Disability Table A (Experience Table) & CIA 86-92 Aggregate Mortality Table.
7
Consider Your Future Income
5,073,767
3,624,119
2,174,471
1,449,648
3,407,719
2,434,085
1,460,451
973,634
2,040,979
1,457,842
874,705
583,137
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
2,000 3,000 5,000 7,000
Current Monthly Income
Inco
me
Pot
ential
Age 25
Age 35
Age 45
Assuming a 2% raise each year, these are your potential earnings up to age 65.
8
Which Job Would You Rather
Have? JOB A
$35,000 income while you are working.
$0 if you are unable to work.
JOB B
$34,000 income while you are working.
$24,000 tax-free if you are disabled.
9
If You Became Disabled Today, Could You Afford To:
Pay your mortgage or your rent? Buy food? Pay your utilities? Make car payments? Make other loan payments?
10
What Are Your Options?
Liquidate some or all of your assets?
Use your personal savings?
Surrender your RRSPs?
Apply for a personal loan?
Depend on your spouse’s income?
Borrow money from your family and friends?
11
What Are Your Solutions?
Workers’ Compensation?
Employment Insurance?
Canada Pension Plan (CPP/QPP)?
Group Insurance or Association Plan?
Individual Disability Plan
12
Assets You Insure Today?
Your Home?
Your Vehicles?
Other Assets?
Your Ability To Earn An Income?
13
You Couldn’t Afford A Car If You Didn’t Have An Income…BUT IT’S PROTECTED!
14
You Couldn’t Make Payments On Your House If You Didn’t Have An Income…
BUT IT’S PROTECTED!
15
In Fact, You Might Have To Part With Some Of Your
Possessions If You Didn’t Have An
Income...BUT EVEN THEY ARE
PROTECTED!
16
Your Ability To Earn An Income
Is One Of Your Most Valuable Assets.Why not insure
it?
17
About Great-West A leading life and health insurer in
Canada.
With more than 60 years of experience in the disability insurance market, Great-West has established a solid reputation for providing quality products and services.
Received superior ratings on its claims paying ability or financial strength from the major rating agencies.