Individual disability insurance can help protect your top asset

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Individual disability insurance can help protect your top asset

Do you insure your house? Your car? Your phone? Most people do.

That’s because these assets are extremely valuable and costly to replace. Your income is what pays for these items and, for that reason, is perhaps the most important asset you can protect.

What puts your income at risk? The economy, certainly, and your company performance — but also the very real chance that you could get sick or hurt and have to be out of work for a while, causing an interruption to your income.

The Social Security Administration estimates that 1 in 4 of today’s 20-year-olds will become disabled before age 67. Disability insurance helps protect a portion of your income while you focus on recovery.

Long term disability (LTD) insurance is an excellent foundation for income protection; but benefit maximums, uncovered compensation, and taxable benefits may leave higher income earners with a gap in coverage. Here’s how supplemental individual disability insurance (IDI) can help:

  • It can replace more of your income. Long term disability (LTD) insurance replaces a certain percentage of your income, up to a maximum amount per month. Supplemental individual disability insurance (IDI) can protect more of your monthly income, so you can maintain your current lifestyle while focusing on recovery.
  • It can protect total compensation (including bonus and other incentive pay). Long term disability (LTD) insurance typically insures salary or hourly pay. Many professionals earn much of their compensation in the form of commissions, bonuses, or other merit pay. Individual disability insurance (IDI) can insure all of your compensation, helping to replace the income you and your family count on.

Are you sufficiently protecting your most valuable asset, your income?

Get financial peace of mind. Contact Unum today.

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