Disability Insurance
Ask most people to think about their most valuable asset, and they'll mention their home, their car, their jewelry, or other possessions. But for most of us, our most valuable possession isn't anything of those things ¬ it's our ability to earn a living. And just as you would insure your car, your home, and other valuable possessions, you need to insure yourself in case you are no longer able to work. That's what disability income insurance does ¬ it provides a source of replacement income if you're unable to work due to an illness or accident.
If becoming disabled may seem unlikely, the odds may surprise you. Nearly 1 in 5 Americans will become disabled for 1 year or more before the age of 65.
The other thing to keep in mind is that an accident or illness that keeps you out of work for a period of time can be very costly. That's because people who become disabled not only need to continue providing for loved ones, but for themselves as well. A disabling injury or illness could lead to medical bills, modifications to your car or home, or other unforeseen needs that can be quite expensive. For all these reasons, almost anyone who works whether they're single, married, with children or without ¬ should consider disability income insurance.
Video Testimonials
Rick Matthews
As the founder and owner of one of the largest concrete construction companies in the San Diego area, Rick Matthews was a man used to doing things on his own. Because he'd seen his father's health fail with no disability coverage to protect his income, he decided to purchase a policy for himself. Years later, Rick suffered a medical crisis that cost him both his legs, which activated his disability coverage. Rick opted for a lump-sum payment that helped him maintain his family's lifestyle and keep their home in the community they loved.
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Diana Geistler
When Dale Geistler started his own business, he knew that he'd have to reevaluate the insurance coverages he carried. Following a discussion with his financial representative, Dale agreed to increase his life insurance coverage and buy disability income insurance. Thirteen years later, Dale was diagnosed with leukemia. When he became too ill to work, he relied on his disability insurance to help pay the family's bills and cover the cost of specialized cancer treatments. At age 55, Dale succumbed to the cancer. Disability benefits provided for Dale's family when he was ill, and proceeds from his life insurance have helped his wife, Diana, pay off debts, cover living expenses and make long-term financial plans.
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