When the Sickness or Injury Happens
We’ve got your income continuing while you recover.
Disability
When you think of your assets, you probably think of tangible things like your home, car and retirement account. But, what about your ability to earn a living? At Monteith Group, we believe one of your biggest assets isn’t anything you can touch or feel; it’s your ability to work. If you’re like the majority of Americans, it would be difficult, if not impossible, to continue meeting your monthly obligations if you were to become injured or ill and could no longer work.
Disability income insurance is a type of insurance product designed to help replace a major portion of your income if you were unable to work because of an illness or injury. For this reason, many people think of it as “paycheck protection.” Along with life insurance, disability insurance can offer the protection you need to ensure your family doesn’t lose their home or other valuable assets if the unthinkable happens.
Most people don’t think they’re at risk of becoming disabled, but according to the U.S. Social Security Administration, one in five Americans (56 million) are currently living with a physical or mental disability. Additionally, it’s estimated that one in four of today’s 20-year-olds will become disabled before reaching their retirement age.
1 in 4 of today’s 20-year-olds will be
disabled before they reach retirement
Without a solid disability insurance plan, your family could be at a significant risk if something unexpected happened, especially if you contribute to monthly household bills or a mortgage (most American households rely on two incomes to pay the mortgage). Relying on Social Security Disability to protect you may not be enough: it’s very difficult to qualify for Social Security Disability benefits. The Social Security Administration uses a strict definition of “disability” and requires that you be unable to work in any occupation you would otherwise be qualified for based on your education, job experience and training.
Disability insurance purchased through an insurance professional generally uses an “own occupation” definition of disability rather than the “any occupation” definition used by the Social Security Administration, so proving you have a disability is less burdensome.