I came across this article at CNNMoney.com last week.  Published on Valentine’s Day, writer Gerri Willis offered some very good financial advice to couples.  As #2 is most relevant to this blog, it will be the only bullet point I expand.  For the complete article, visit http://money.cnn.com/2008/02/14/pf/saving/toptips/

1: Get your own credit history

2: Consider disability insurance

Your number one asset is your ability to bring home a paycheck. But what happens if there’s an accident, or you become ill, or maybe you can’t work anymore because of an injury?

That’s where disability insurance comes in. It provides you with a monthly income in case you can’t work. You may be able to purchase long-term disability insurance from your employer, or you can get it on your own.

According to an industry group, the Life and Health Insurance Foundation for Education, about one in five Americans will become disabled for one year or more before the age of 65.

Keep in mind you will pay more for a policy if you’re in a high-risk job or if you’re a smoker. And the younger you are, the cheaper the policy. To figure out how much you would need, check out a calculator at www.life-line.org and click on “disability insurance.”

3: Combine the best 401(k) features

4: Streamline your savings

I am happy to see that more and more financial writers are highly recommending disability insurance, as it is quite often overlooked by many people.  I firmly believe that disability insurance should be an integral part of most people’s financial plan.

Happy Valentine’s day.

Okay, now that I have your attention, here is some interesting information I found regarding heart disease and disability:

• According to the National Academy of an Aging Society, almost 18 million people – 7 percent of all Americans have heart disease. More than half of the population with heart disease is under age 65.
• According to the American Heart Association, coronary heart disease is the leading cause of premature, permanent disability in the U.S. labor force.  People with heart disease are more limited in the type or amount of work they can do compared to those without heart disease.
• According the National Academy of an Aging Society, more than 22 percent of  workers with heart disease have work limitations, compared to just 8 percent of workers without heart disease.
• Coronary heart disease is particularly disabling. Among workers age 51 to 61, for example, some 44 percent of those with heart disease and 56 percent of those with coronary heart disease report that their condition is the cause of a limitation in the type or amount of paid work they can do.
• Coronary heart disease accounts for 19 percent of disability allowances by the Social Security Administration.

Now for the good news – many forms of heart disease are largely preventable. Controlling conditions, such as high blood pressure and diabetes, and engaging in a healthy lifestyle (including quitting smoking) can reduce the risk of heart disease.  And, to protect against the loss of income from heart disease (as well as other health conditions), you should have a long term disability policy.  Health insurance will pay the medical bills, but it won’t replace your income.

Protect your health by changing your lifestyle, if necessary, and protect your income with disability insurance.

During the current economic slow-down (I’m being polite), there have been an unprecedented number of newly-unemployed people.  I would imagine that many will start their own businesses rather than re-enter the job market.  For those who make on their own, many will base their businesses in home offices.

Even prior to our current economic scene, the U.S. Bureau of Labor Statistics estimates that there are more than 18.3 million home-based businesses in the United States.  There are as many as 43 million Americans running these entrepreneurial entities which range from business services to daycare to plumbing.  With increasing independence due to technology and growing income and tax benefits, The Home Based Business Report estimates that three in ten businesses are home based.

It’s a good thing, then, that disability insurers are finally recognizing the need this market segment has for disability insurance.   Up until recently, restrictions placed on these types of business made it difficult for home-based business owners to purchase this much-needed insurance.  Some of the insurance companies will now even recognize past income as an employee in determining the benefit amounts for these newly self-employed people.