In the event of an unforeseen accident or illness, disability insurance may be a good way to protect your income and savings.
Don’t think you need disability coverage? Think again. Many of us draft a will, create an estate strategy and purchase life insurance. But few of us consider disability insurance – the coverage that can help us maintain our income and quality of life while we are alive.
A fate worse than death? In financial terms, maybe. Statistics from the Social Security Administration show that 25% of Americans in their 20s may become disabled before they reach age 67. Consider this – if you are disabled and cannot work, your income stops, but your expenses may not. In fact, due to the cost of medical treatment, your expenses may even increase.1
Will the government take care of you? Many disabled people discover that they don’t qualify for state assistance. Others find that the amount or length of coverage available is not sufficient to support them.
It may be time to start thinking about disability insurance. The reality is, it could happen to you! And if it does, will your family be taken care of? Will you be prepared? May is Disability Insurance Awareness Month, so why not find out about the choices that might be available for you?
For more information on Disability Insurance, contact Professional Insurance Programs, a division of WDA Insurance & Services Corp. at 414-277-0154 or [email protected]. More information can also be found on our website.
- U.S. News & World Report, April 30, 2020