Disability Insurance
April 25, 2025
| AgFocus-Ag Focus | BusinessFocus-Business Focus | BankingFocus-Banking Focus | BankingFocus-Financial Tips
|
 Unfortunately, I’ve seen firsthand how one unexpected event can jeopardize everything you’ve built - your business, your family’s future, and your well-being. Disability insurance isn’t just protection, it’s the safeguard that keeps your life’s work from unraveling when the unexpected strikes. Most people insure their homes, their vehicles, and even their phones but they overlook protecting the very income that makes it all possible. This article will help you understand why this coverage is essential for securing your business, loved ones, and your legacy.
|
The Overlooked Risk: Why Disability Insurance is Essential for Protecting Your Livelihood
By: Katie Christiansen | Retail Banking Officer / Insurance Specialist - Laurel Branch
“Just under one in four of today’s 20-year-olds can expect to be out of work for at least a year because of a disabling condition before they reach the normal retirement age,” as reported by the Social Security Administration.
While we have insurance in place to protect our assets, shouldn’t we consider the importance of protecting our income as well? Disability Insurance provides income replacement if you are unable to work due to serious illness or injury. It helps pay essential bills and maintain your standard of living when you’re not earning your usual income.
Millions of working adults do not currently have disability insurance. With rising medical costs, higher health insurance deductibles, and the absence of emergency savings for many consumers, disability insurance could be key protection when the unthinkable happens.
What if you don’t need to use the coverage? Return of Premium Rider gives consumers a chance to get back 100% of eligible premiums at the end of the disability policy.
Do you need disability insurance?
- Do you or your family rely on your income to live?
If the answer is yes, then disability insurance is worth considering. If you couldn’t work for 6 months how would you and your family pay for necessities (mortgage payment, food, or healthcare?)
- Do you have enough savings to cover 3-6+ months of expenses?
Many people don’t. Disability insurance could help!
- Is your job physically demanding or high-risk?
The more physically involved your job is, the higher the chance of needing disability insurance.
- Does your employer offer any disability coverage?
If not your income could be vulnerable. If yes, you may want to check into those policies, many times they are short term or may not have adequate coverage.
5. Are you self-employed?
When you are self-employed you don’t have employer benefits to fall back on, including sick pay or disability insurance. You may be the most vulnerable to losing income.
Who should I talk to if I have questions about disability insurance or want to look into a policy that would be right for me?
Our specialists at Security Bank will be glad to discuss your individual needs. Call today to make an appointment!