“A man who does not plan long ahead will find trouble at his door.”

-Confucius, Chinese philosopher

Something that has gotten me thinking lately, is seeing this new generation of parents emerging. With that rush of excitement in seeing all these new babies and all the possibilities they encapsulate it took me on a trip down memory lane, to when I became a brand new parent. Holding my son in my arms for the first time and remembering all those emotions. One thought that went through my mind that stays with me to this day is, "I have to survive so that he (now they) can thrive."

The excitement of a new baby is incredible. Yes, they are a lot of work. Yes, as the parent of a newborn, soon to be toddler you are exhausted. No, you don't actually need as much sleep to function as you thought. Yes, there is coffee. Yes, you can have more. Soak in as many of those amazing baby days as possible because they go quick!

Fast forward 5 months into my parental journey. I was involved in a major car accident that left me badly injured, and on the long path to recovery. After about a year in rehab and spending time on modified duty and still needing to work 55-60 hours a week at work, I was finally back on my feet. But was I really? We were now having to walk the road to financial recovery.

May is Disability Insurance (DI) Awareness month and I wanted to give you all some food for thought as you all are trying to create the future you want for yourselves and your families. In hindsight if I had only known about the tool that disability insurance is to an overall financial plan. Here are 5 things formatted into true or false statements that I wish I would've known about DI when creating my financial plan for my family.

1. Your Best Insurability is NOW

True. Disability insurance is built on a life insurance chassis. Therefore the younger you are the better your insurability. With plan designs that will work with you to retirement age and beyond, this product can become a great shielding asset to your overall financial plans. The peace of mind of being able to replace your income in the event of circumstances beyond your control will help you to be able to confidently face the future you are trying to create.

2. DI is Only For Those Who Work Risky Jobs

False. Catastrophe is non-discriminatory. Things happen to everyone. Life is a journey, and to think that there won't be major or minor issues is akin to saying the tide won't come in. Just like a menu at a restaurant, there are options for everyone. Find a broker who has access to multiple companies, as each company offers plans designed for specific demographics.

3. My Job Offers Short-Term DI and That's Good Enough

False. While it is absolutely fantastic that your employer offers that type of coverage. What happens if you can't work for longer than the 3-12 months the policy covers? Do you have a plan in place for that eventuality? In this employment market, people are changing jobs often. Having your own individual DI plan in place can make sure that if catastrophe chooses to visit, you're prepared whether or not you have coverage through your employer or not.

4. DI is Only in Case I Need to Replace My Income

False. Many policies can be designed to include supplemental accident, critical illness, and other coverage to become a backstop for some of the gaps of your health policy. This aspect of DI makes it one of the most versatile life insurance products out there. Speak with a broker who can guide you through all of the options.

5. I Make Too Much or Too Little Money to Get a DI Policy

False. There are companies that specialize in every demographic when it comes to DI. This is why it is important to have a broker that doesn't operate with a one size fits all style of policy offers. Whether you are an employer, looking to design a plan to fit your team, a high-net worth individual, or an middle class man/woman, having a broker that will sit down and truly listen to you, your circumstances, your plans, and how to best address what you're trying to accomplish will pay huge dividends in the end.

If I had only known about a tool like Disability Insurance. In the accident I was in I could've had a supplemental accident plan to help with my out of pocket costs. There could've been some coverage to help me recuperate earlier on so I could've gone back to work sooner. The curve of getting back to full duty could've been shortened. In hindsight there were so many things that would've made that time easier not only for me but for my family.

Finances are one of the leading causes of strife within a household. Failure to plan in the area of finances is a huge contributor to the outcome of a family. Taking the time to consider your options and being proactive in creating the future you want is tantamount to creating success for yourself and for your ultimate legacy.