Why is it important to protect your income with disability insurance? While most Americans insure their lives, homes, cars, and material assets many overlook the need to protect their most valuable asset, their ability to earn an income. Few people fully appreciate the staggering risk that a disability presents.
Consider these statistics:
- During a working career an individual is 3 1/2 times more likely to be injured and need disability coverage than die.
- Over age 35, 1 in 3 will become disabled over 90 days with an average duration of 36 months.
- Disability is 16 more likely than death to cause foreclosure on a home.
- 64% of disabilities occur off the job and are not covered by workers’ compensation.
Disability policies available:
- Individual disability income
- Short/ Long-term group plans
- Business overhead expense
- Business reducing term
- Disability plans to offset personal and business loans
Disability Benefits 101
Please visit Disability 101 if you would like information on State Disability, Social Security disability programs, or other useful planning tools. In addition calculators are available to assist you plan ahead if there is a life changing event.