You work hard for what you enjoy in life. Your ability to earn an income is your most valuable asset. You also have continuing expenses such as food, clothing, shelter, utilities, insurance premiums and entertainment. Disability income insurance provides money to replace earned income while disabled from sickness or an accident.
Where will the money come from if you are disabled?
Many people believe they will be covered by Social Security or workers’ compensation if they were to become disabled, but the facts are too great to ignore:
- 1 out of 4 workers, ages 35-65, will be disabled for 90 days*
- Disability is the cause of nearly 50% of all home foreclosures*
- 80% of U.S. workers will exhaust their savings in only two months without the ability to earn an income**
- Less than 10% of disabling accidents and illnesses are work-related (the other 90% are not, meaning workers’ compensation doesn’t cover them)***
- Only 35% of workers applying for Social Security Disability Insurance (SSDI) claim payments in 2009 were approved***
* National Association of Life Underwriters
** Commissioner’s Disability Table
*** Council for Disability Awareness, Long-Term Disability Claims Review, 2010