Individual disability insurance
What is disability insurance? It protects your ability to earn a living. If you get too sick or injured to work, it replaces a portion of your income so you can pay your bills. Disability is more common than you may think and often lasts longer than expected. In fact, the average long-term disability absence lasts around 34.6 months.
What does disability insurance do?
Disability insurance policies typically pay a percentage of your income if you have a serious illness or injury that prevents you from working. In turn, this can help preserve the lifestyle you’ve built for you or your family until you’re able to work again.
You may be familiar with some types, perhaps through the benefits offered by your employer. Short term plans cover you immediately after an incident, while a long-term policy, like the plan being offered to you, can pay for many years — even through retirement age — if your disability lasts for an extended period.
Why every working adult should have disability insurance?
What would happen if you were suddenly unable to work and earn an income? Accidents and injuries happen, and we can’t always anticipate if or when we’ll be diagnosed with a serious illness or medical condition. A disability policy can help protect you and your family by providing income to help pay your bills if you can’t collect your normal paycheck.
Watch this video of Dr. Feranmi Okanlami, a Guardian customer. After suffering an unexpected accident, his disability insurance helped him continue to pursue his dream, while also opening up new avenues for him to find success.
Disabilities are more common than you may think
While the term “disability” is sometimes applied to catastrophic conditions, such as paralysis from a car accident or a debilitating stroke, it covers far more conditions than you might think. Disabilities are more typically the result of less severe injuries, and people often need disability coverage for more common conditions such as certain illnesses or mental health.
1 in 4
Around 1 in 4 working Americans a year will experience a disability leave each year lasting over 90 days. More than 25% of today’s 20-year-olds can expect to become disabled and be out of work for at least a year during their career.
Top 10%
As of 2024, even the top 10% of income earners in the US didn’t feel financially secure.1
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1 Mind, Body, and Wallet® report 2024, Guardian, 2024