Broker Check

Welcome to Disability Insurance Awareness Month!

May 08, 2018
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It will never happen to me!

My job doesn’t take any physical effort; I don’t need protection.

Answer this:

What would happen if you couldn’t work for a month or three months and there was no income? I suppose you are resting easy because you saved at least three months of basic expenses!

Simply put, if you have a job, you most likely need disability insurance. The possibility of a disabling illness or injury may seem remote, but statistics say otherwise.

You actually have a three in ten chance of suffering a disability that keeps you out of work for 90 days or longer at some point during your working career. Keep in mind that 90% of disabilities are caused by illnesses, not accidents.

You also have to think long-term. How much do you earn in a year, and what would that be over a lifetime? A 25-year-old worker who makes $50,000 a year and suffers a permanent disability could lose $3.8 million in future earnings.

Where will the money come from?

        Savings

        Retirement plan

        Workers Compensation

        State Disability

        Social Security

        Employer Sponsored Coverage

        Individual Disability policy

Each option above has qualifications and pros and cons.

What is your plan if you get injured?