Disability Insurance

Your most valuable asset isn’t your house or retirement account. Your most valuable asset is your income.

Life insurance provides for your family in case of your death. Disability insurance provides for your family in case of an accident from which you are not able to work anymore.

The chance of missing months or years of work because of an injury or illness may seem remote, especially if you are young. But more than one in four 20-year-olds will experience a disability event for 90 days or more before they reach 67, according to the Social Security Administration.

People shrug off the risk because they think about worst-case scenarios, such as spinal cord injuries leading to quadriplegia or horrific accidents that result in amputation. Surprisingly, most disability claims are from back injuries, cancer, heart attacks, diabetes, and other illnesses.

The questions you need to answer are “What would you do if you couldn’t work?” and “How far could your savings last without a paycheck?”

 

Disability Insurance Carriers: