May is Disability Insurance Awareness month!

What is your greatest asset?  Your car?  Your home?  No, your greatest asset is your ability to earn a living.  Think about how your life, and the lives of your family would change if suddenly your income was gone.  For many people that has been a reality, and they have lost their homes, and gone bankrupt due to a simple injury or illness that prevented them from working.

All of your plans for the future—from buying a home, to putting your kids through college, to building a retirement nest egg—are based on the assumption you’ll continue to earn a paycheck until you retire. But what would happen if those paychecks stopped? That’s where disability insurance comes in. It provides an income to you and your family if you are unable to work because of illness or injury.

Most people think that they would be covered if they became ill or were injured.  The truth is, unless you have an individual policy, your protection might not be what it seems.  About 45% of those who initially apply for disability benefits through Social Security are initially denied, and those who are approved get an average benefit of just $1,063 monthly—hardly enough to replace the average worker’s income. Workers’ Compensation covers only work-related disabilities, but according to the National Safety Council, 73% of disabling accidents and illnesses aren’t work-related.

What are the chances?

• Chance of being hit by lightning.......................... 1 in 280,000
• Chance of hitting a hole-in-one........................... 1 in 150,000
• Chance of having a stroke in a given year.......... 1 in 795
• Chance of using your homeowners insurance..... 1 in 20
• Chance of using your auto insurance.................. 1 in 15
• Chance of you missing at least 90 days of work due to a disability are 1 in 3!!