SERVICES : Financial Services AMERICANS NOT PLANNING FOR DISABILITY DISPITE ODDS Sep 19, 2007 by Insurance Newscast Though the odds of disability run high for American workers, only 3 percent have enough disability insurance to replace all of their income, according to a new survey by COUNTRY Insurance & Financial Services. Further, more than one-third (35 percent) say none of their income would be replaced if they were unable to work. According to the Social Security Administration, 30 percent of American workers will suffer some type of disability in their lifetime. Many people surveyed say they would not be able to maintain the same quality of life for very long if they became disabled. In the short-term, one-third (33 percent) believe they could not maintain their lifestyle if disabled and out-of-work for 90 days, and another 18 percent are unsure. Disability Insurance is low on priority list: -- Sixty-two percent of Americans value other forms of insurance protection, such as homeowners (43 percent) and auto insurance (19 percent), over disability insurance. Just 22 percent value disability insurance most. -- If they were disabled, one quarter (26 percent) say they either do not know where their income would come from or their income would come from no where. -- Nearly one-in-three (31 percent) expect their disability income to come from the government, despite Social Security Administration reports that less than half of all disability claims are approved. "People should consider income their most valuable asset," says Keith Brannan, director of the Financial Security Office at COUNTRY. "It is important to determine if you have adequate coverage to protect your income before the unforeseen happens and avoid the risk of losing other important assets. In fact, research shows disability causes nearly half of all mortgage foreclosures." Survey highlights: 1. None of their income would be replaced if disabled. - Response of All Americans = 35% - Response of Men = 31% - Response of Women = 39% 2. Could maintain current lifestyle if disabled for 90 days. - Response of All Americans = 49% - Response of Men = 54% - Response of Women = 45% 3. Believe their disability income would come from the government. - Response of All Americans = 31% - Response of Men = 26% - Response of Women = 35% For more information on Americans' sentiments about financial security, please visit http://www.countryfinancialsecurityindex.com. The COUNTRY disability insurance survey is based on a national telephone survey of at least 3,000 Americans and is compiled by Rasmussen Reports, LLC, an independent research firm. The margin of sampling error for a survey based on this many interviews is approximately +/- 3 percentage points with a 95 percent level of confidence. About COUNTRY COUNTRY Insurance & Financial Services (http://www.countryfinancial.com) serves about one million households and businesses throughout the United States. It offers a full range of financial products and services from auto, home and life insurance to retirement planning services, investment management and annuities.
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Montgomery Insurance and Investments Agency, Inc. is a locally owned and operated independent insurance agency with specialists in personal and commercial insurance, financial services including investments and employee benefits. They have two conveniently located offices in the downtown areas of Jamestown and Xenia.
Left to right: Jim Saner, Eric Montgomery, Brad Montgomery and Roy Montgomery. "Prompt efficient service." - Paul & Edith Calloway DISCLAIMER - Securities and investment advisory services offered through Tower Square Securities, Inc., a member of FINRA / SIPC. Montgomery Insurance and Investments Agency, Inc. is not a registered investment advisor or a securities brokers dealer and has no affiliation with Tower Square Securities, Inc. Eric Montgomery is licensed in AL, CA, FL, GA, IL, IN, MA, MI, MO, NC, OH, VA, VT, WI, WV for the sale of security products. Roy Montgomery is licensed in OH for the sale of security products. Don Cain is licensed in OH for the sale of security products. |
| Xenia: 114 South Detroit Street • Xenia, OH 45385 • (937) 372-7646 Jamestown: 1 West Washington Street • Jamestown, OH 45335 • (937) 675-9321 |
| CD200601302 Exp 07/2007 |