Disability Insurance Questions
Why
should I have disability insurance?
Your ability to earn an income is your most valuable asset. Think of
all the things you own. How many of them could you keep if you didn't have
an income? Think of the things you want to own in the future. Could you have
those dreams if you didn't have an income? You insure your home and cars.
Shouldn't we insure the one thing that makes all these other things
possible?
Fact: You don't know the future. The chances of being disabled are higher than most people think.
Chance
of being disabled more than 90 days, before age 65
Age 35 - 41 out of every 100 people
Age 45 - 36 out of every 100 people
Age 55 - 27 out of every 100 people
Fact: If you think Social Security will be there, think again. To qualify for Social Security disability you must: "be unable to engage in any gainful work which exists anywhere in the national economy." and your disability must be "expected to result in death or has lasted for 12 months." Only 30% of people who apply for Social Security disability ever receive a penny.