Is Your Ability To Earn An Income Protected?

You insure your most valuable assets such as your home, car and your life. One insurance product that is constantly overlooked and undervalued is disability income protection. When you boil it down, it is insurance for a portion of your income. Your ability to earn an income is by far your greatest asset and is what pays for housing, food, utilities, transportation, childcare and every other expense.

What would happen if suddenly you were unable to work?

For most individuals, even with a second income through a spouse, their loss of income would have a significant negative impact. Would you be able to afford your mortgage, car payments and your standard of living if you were unable to receive a paycheck? It becomes even more complicated if you have dependent children in the household.

Disability won’t happen to me, why should I pay another insurance premium?

Most people think it won’t happen to them until it is too late. Before you decide on whether you need it, here are some quick facts:

  • According to US Social Security Administration, one in four 20 year olds will become disabled before they reach age 67
  • One in three women and one in four men will have a disability that keeps them out of work for 90 days or more at some point in their lifetime
  • If you’re under age 35, chances are one in three you will be disabled for at least six months in your lifetime
  • According to Mass Mutual, the average claim length is four years

Even if I become disabled, won’t the government subsidize my income?

While the averages vary by state, roughly 35% of disability applicants are approved at the initial application process and only 10% at the reconsideration level. Even if you are approved, Social Security Administration uses a calculation to determine the benefit amount. For simplicity, the average benefit amount is $1,171 per month but those whose income was fairly high in recent years can receive up to $2,687.

So how does disability income protection work?

Disability income works to protect a portion of your income if you were unable to work and earn money. If you had to stop working due to a disability, the income you’re earning now would simply not be there. That is where disability income comes into play. Your disability benefit will typically pay a monthly amount in the event of disability. These payments will help pay for your housing, transportation, and other living expenses.

Now that you have a better understanding, is your income protected?

Contact me at or 304-292-9645 for more information