Disability Insurance 101 

Without your paycheck, how long would you be able to make your mortgage or rent payment, buy groceries or pay your credit card bills without feeling the pinch? If you’re like most, it wouldn’t be long at all: Half of working Americans couldn’t make it a month before financial difficulties would set in, and almost one in four would have problems immediately, according to a Life Happens survey.¹

That’s where disability insurance comes in. Think of it as insurance for your paycheck. It ensures that if you are unable to work because of illness or injury, you will continue to receive an income and make ends meet until you’re able to return to work.

You don’t hesitate to insure your home, car, and other valuable possessions, so why wouldn’t you also protect what pays for all those things—your paycheck.

Most of us have some kind of personal debt, such as a mortgage or credit card bills. Would you be able to maintain your standard of living if you were too ill or injured to work for an extended length of time? Plus, a disabling injury or illness could lead to medical bills, modifications to your car or home, or other unforeseen needs that can be quite expensive.

You also have to think long term. How much do you earn in a year and what would that be over a lifetime. A 25-year-old worker who makes $50,000 a year and suffers a permanent disability could lose $3.8 million in future earnings.

For all these reasons, almost anyone who works—whether they’re single, married, with children or without—should consider disability insurance.

If you would like to hear more about how we can help you please reach out to us at, questions@planprofessionals.com or call at 212-697-2000.

Cara Lovenson is president of Plan Professionals, Inc., a licensed insurance consultant located in New York City. She can be reached at 212-697-2000, or by e-mail at cara@planprofessionals.com. Her Web site is planprofessionals.com

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