Think twice about your need for disability insurance

Think twice about your need for disability insurance


Think twice about your need for disability insurance

You’re young, you’re healthy, you have a thriving career. The last thing you need to worry about is disability insurance, right?

Wrong — for two reasons.

Reason #1: Disability doesn’t discriminate based on age, gender or race. And most people vastly underestimate their chances of being unable to work at some point in their careers because of injury or illness. In fact, a Council for Disability Awareness study last year reported more than 20 percent of workers under 40 say they’re more likely to win a big lottery than become unable to work due to illness or injury.

Ready for the real odds? One chance in 259,000,000 you’ll hit the jackpot vs. 1 in 4 you’ll be disabled during your career, according to the CDA. Which do you want to gamble on?

Get financial peace of mind. Contact Unum today.

Reason #2: Your ability to earn an income may well be your most valuable asset.  OK, most people get that. In the same CDA study, people ranked their income right up there with their home — and just behind their health — as by far the three most important things in life.

“Most working consumers aren’t doing anything to protect that all-important resource – their income,” said Kathy Plummer, director of disability products for employee benefits provider Unum. “Only a third of workers have access to this coverage at work.”

A strong majority agree it’s important to protect their health and home, but only 28 percent see protecting their income as crucial. In fact, way more people — 73 percent — think it’s important to protect their car, the CDA survey shows.

Affordable financial safety net

Consider your daily living expenses: mortgage or rent, gas, utilities, food, day care — not to mention the fun stuff like movies, soccer camp, piano lessons or those great shoes that just went on sale. How long could you continue to pay your bills without your paycheck?

“Many of America’s workers are already stretched thin financially,” Plummer said. “New research from said that 63 percent of Americans have no savings for emergency medical care or even a $500 car repair.”

Disability insurance purchased at your workplace can provide an affordable financial safety net to protect you and your family’s way of life. You can learn more on the Council for Disability Awareness website, or visit Unum’s disability resources. Then, if your employer doesn’t already offer disability insurance, ask them to add it.

Suffering a disability really could be the last thing you need to worry about.

For more information click here.

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