Disability Income Insurance
Your most valuable asset is you
If you are currently employed, there is a good chance that you rely on your income. Whether you are single or have a family, every dollar that you spend and every dollar that you save is provided by your paycheck. Your ability to earn an income is possibly the greatest asset to your lifestyle, your future, your family, and your retirement.
While you may think it will never happen to you, could you continue to meet your financial obligations if you were to become too sick or hurt to work? If you were too sick or hurt to work, could you still pay your mortgage, car payments, utilities, education, living expenses and more? If you would still need your income to meet your financial obligations, then you should protect your income NOW.
CRN202208-269852
What is Disability Insurance?
Disability insurance is also called disability income (DI) insurance. If you become too sick or injured to work for an extended period of time, DI could help cover a portion of your income, including bonuses and commissions. It’s important to know that even if you have group long-term disability insurance through your employer, it may not be enough.
What are the chances you’ll need it?
When you think about the kind of disability that could keep you from working, usually the first thing that comes to mind is a car accident or other catastrophic injury — in other words, something that could happen, but most likely won’t.
In reality, the most common cause of disability is illness, not accidents or injuries.
Arthritis, back pain, neurological problems and cardiovascular illnesses are all more common than injuries when it comes to disability claims.1 And disabilities are more common than you might think. In fact, one in four 20-year-olds will become disabled before they reach retirement age, according to the Social Security Administration .2 You probably know someone who’s had to take time off from work for medical reasons, even if it’s not permanent.