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May is Disability Insurance Awareness Month
Americans are urged to think about protecting their ability to earn an income
Would you be prepared financially if your income suddenly disappeared?
This is the question that the Life and Health Insurance Foundation for Education (LIFE) wants all Americans to give serious thought to during the month of May, which they have designated as Disability Insurance Awareness Month (DIAM).
As part of this industrywide campaign, Guardian and its wholly owned stock subsidiary Berkshire Life are proud to be among the nation's leading insurance companies who are partnering with LIFE to encourage Americans to think about the need to protect their greatest asset - their ability to earn an income. At the heart of this month's awareness-building efforts is the opportunity to remind both employers and individuals of the importance of disability income protection. According to LIFE, while many people buy life insurance after giving serious thought to how their death might impact their families' living standards, few give the same level of consideration to what would happen if they became sick or injured and were unable to work. In fact, most Americans are better prepared financially for death (usually with life insurance) than for a period of disability, even though the chances are at least three to five times greater (depending on age) that a disability will occur.
Consider these facts ...
| 1 in 3
| The approximate number of workers over age 30 who will suffer a disability lasting three months or longer at some time in their working career.1
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| 50%
| The approximate percentage of home foreclosures that result from an unforeseen disability.2
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| 70%
| The approximate annual percentage of denials for people who apply for Social Security disability benefits.3
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| 64%
| The percentage of workers who do not have long-term Disability Income coverage through work.4
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| 1 in 7
| The approximate number of people between the ages 35 and 65 who can expect to become disabled for five years or longer.5
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The bottom line is that a tremendous gap exists between the need for disability insurance and the amount of coverage Americans carry. The vast majority of America's 150 million workers lack adequate disability income protection, even though about one in five can expect to be disabled for one year or more before retirement.
Consider Guardian
Let Guardian help you ensure that all of your financial goals are realized. For additional information about income protection insurance, click here to locate the Guardian agency nearest to you. Each agency is staffed with at least one Disability Income Specialist, who provides local support and service for disability income insurance inquiries.
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