Combine that with a 1 out of 4 chance of experiencing a long term disability (6 months or more) at one point in their careers, you can see how this story ends.
The vast majority of bankruptcies and mortgage foreclosures stem from illness or injury-related medical issues.
Disability Insurance steps in as soon as you are unable to work because of an illness, an injury or another impairment. It replaces part of your income to help you get through tough times.
Simply, it depends on what you do. Our plans pay out if you are no longer able to perform your specific occupation. So if you hurt your ankle and you are a rideshare driver – that qualifies as a disability; but if you work as a consultant from home – it does not.
If your employer already offers disability insurance, it is likely short-term and will only pay out during the first 90 days. We help carry you through past that.
1. This is John. John is an Architect who loves to ride his bike on weekends.
2. John gets in a bike accident and hurts his arm, he’s going to be alright; but he can’t draw or use a computer for the next 6 months.
3. John gets to rest during his recovery. His Disability Insurance kicks in and helps him support his family and sustain their expenses.
Do you primarily rely on your income to sustain your lifestyle, cover your expenses, and do the things you love?
Do you have family or friends who primarily depend on you and your income for support?
Is your rainy day fund unable to sustain you and your loved ones for over two years should anything happen to you?
If you’ve answered YES to any these questions then your ability to work, your income, is your most valuable asset.
You need to protect it.