Disability Income Insurance
Protecting Your Most Valued Asset
Believe it or not, one of the most valuable assets you have may not even be adequately protected — your ability to work and earn an income.
This is especially important if you have dependents. For example, if you’re the breadwinner in your family. Your employer may offer disability coverage, but it may only pay about 60% of your salary. Figure in unexpected medical costs on top of your mortgage, utility or other bills, and you’re underwater in just a matter of months.
To help determine if you are prepared for a disabling illness or injury, contact us today for a free consultation.
Why buy disability income insurance?
Disability Income Insurance protects your earned income. Depending on the amount and the kind you have, it may cover anything from paid sick leave, to long-term disability benefits.
Most companies provide their full-time employees with some form of Disability Income Insurance. However, if you are self-employed or not covered by your employer, it clearly makes sense to consider purchasing an individual plan or supplement.
How protected is your income?
Imagine if you suddenly lose your job due to an injury or illness. In addition to the physical and emotional toll, your income might be suddenly and dramatically reduced, or possibly eliminated altogether.
Being unable to work means you may be unable to pay your mortgage, monthly bills, health costs, or even living expenses — and you will be struggling to provide for your dependents. It’s a harsh reality, but one few people think about until it happens to them.
Look at the facts
A disabling injury occurs every second – on and off the job.
— National Safety Council, Injury Facts 2008.
The average length of a disability for someone age 40 is 6.6 years.
— Individual Disability Experience Committee of the Society of Actuaries. 2005.
Every 30 seconds, someone files for bankruptcy in the wake of a serious illness.
— “Sick and Broke” by Elizabeth Warren. The Washington Post, February 9, 2006.
Disability is the cause of nearly 50% of all mortgage foreclosures.
— The Council for Disability Awareness