Thursday, 18 April 2013

Suffer disabling accident

In addition, a large portion of your expenses may be fixed. You may have a mortgage, rent, car payment (s), student loan payments, credit card debt, insurance payments, etc. All of these bills remain the same, whether you are working or disabled. If you are currently spending most of what you are doing and have little savings, what do you do when your payment is reduced by 45%?

This is how people get into financial trouble. They live on the edge financially and everything is fine, as long as they are healthy and working. But people get sick, and accidents. Approximately one-third of workers will suffer disabling accident and / or illness during their lifetime. With very little money in savings, people are pushed over the edge when their income dries up. Half of all bankruptcies are caused by health events.







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1 comment:

  1. Unknown4 December 2014 at 14:42

    Disabling accidents can happen at work as well as in day to day living. It is true that people often live on the edge of their financial resources, even when they are employed. A medical emergency might be too much, especially if it interferes with the ability to work or find employment. robertseberalaw.com

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