Life takes a toll and moves at the speed of light. Over time we focus on priorities that are more immediate than others. With certain things, since there is no immediate pain, we tend to put off until it becomes more important to us. Hopefully, it's not too late.

The foundation to everything else, your ability to earn an income should take presence over anything else. Without your ability to work you could not provide the protection for you and your family and achieve your ultimate dreams. Whether those dreams are big or small, it does not matter. It is having that opportunity to achieve them. Without your ability to work and earn a living, those dreams are pushed off to a further distance.

Many people do not even know there is something available to protect their paycheck. Some even think their employer cannot stop paying them due to a serious illness. Unless it is a result of an employment or workman's comp claim, the employer is not obligated to pay a dime beyond sick days and vacation time. That means it is up to you. How do you plan on protecting your paycheck?

There are a couple different ways. This is why you must work with an adviser that knows about all the options available to you. Each one does something a little different. You have to be careful because one may not work like you thought versus another.

The evaluation of the plans is an important key step in the process. Some benefits are a percentage of your income and you have to make enough for them insure it. With this in mind, some small business owners would not qualify due to write-offs and depreciation. The business owner still has an income to protect. The question then becomes how? The alternative is there are hybrid programs that only require a source of income to pay for the premiums.

Sixty-two percent of bankruptcies are because of medical bankruptcies according to a Harvard university study. Nearly three-quarters of them had health insurance at the time of the onset of the illness. Many of the reasons they were pushed over the edge adds up to a loss of income.

Protecting your income should be up there with food and shelter. Without your ability to earn an income, everything is merely a hope or a wish.

Once a business owner or individual has done an evaluation with an advisor, they should visit it regularly and often. This is not something you buy one time and put on the back burner. Keep your plan up to date. If not, it could be too late to do anything about it.

Butch Zemar
www.EliteBenefits.net