You insure your home, your car, and even your cell phone. Why? Because if something unfortunate were to happen to any of these valuables, you'd want to be able to replace what you lost.
What about your income and lifestyle? Do you have insurance to protect those? Whether you work part time or full time, your income is worth protecting. And, if you stay at home, the value of the work you do is worth protecting too—to help offset the cost of paying someone to do that work if you can't.
What if you got sick or so badly hurt that you had to stop working for weeks or months or even years? It may seem like a long shot, but disability isn't a one-in-a-million chance. It's one in four. For some, it's a condition like chronic back pain, migraine headaches or depression. For others, it's an extended illness, like diabetes or cancer. For still others, it's a sudden event like a car accident or heart attack.
When a disability interrupts your ability to work, it can be hard to meet current living expenses, much less pay down debts or set aside money for the future. When you have disability income insurance, and a disability prevents you from working, your coverage replaces a portion of your income and can help protect your lifestyle. Maybe you have disability coverage through your employer. Most workplace-sponsored plans are a good start, but have limits and only provide a fraction of the income needed.
And what if your employer doesn't offer disability coverage? Or you're self-employed, work part-time or have chosen to stay at home? In all of these cases, individual disability insurance can help provide the income you need to maintain your lifestyle.
Think you can't afford it? Think again. The cost is often less than what you pay daily for a cup of coffee.1 Plus, when you purchase your own policy, you'll have disability coverage, even if you change jobs or strike out on your own. Because whether you work part time or full time—or stay at home—your income and lifestyle are worth protecting.
When you choose a company for disability coverage, be sure you turn to one that's been awarded the highest financial strength ratings of any insurer … one that will be there when you need it most.
1Typical individual disability income insurance costs males $24.08/month and females $46.86/month. Typical coffee costs $72.52/month. Eligibility for disability income insurance, additional policy benefits and qualification for benefits is determined on a case-by-case basis.