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 Disability Income

What would happen if your paychecks suddenly stopped because you were too sick or injured to work? You would still have bills to pay for such things as food, housing, utilities, transportation, tuition, retirement funding and more. Where would you get the necessary funds?

When you’re healthy and working, it’s hard to imagine being disabled by illness or injury; but consider these statistics:

  • 1 in 3 working Americans will become disabled for 90 days or longer before reaching age 65.
  • The average length of a work absence due to a disability is 3 ½ years.
  • More than 80% of working Americans either have no disability income protection or are inadequately covered.
To understand the financial burden that an average disability related work absence could place on you and your family, calculate your total expenses for a period of 3 ½ years. Then you’ll see how quickly your savings could be depleted by an unexpected injury or illness.

If you still believe that you are adequately protected, here are a few more things you should know:

  • Social Security disability payments cover only disabilities expected to last at least 12 months or end in death. To qualify, you must be unable to engage in any type of work.
  • Long-term disability insurance through employers, if available, often covers only about 50% of your earnings. Could your family survive on half a paycheck?
Why not plan ahead to protect your lifestyle? MBA offers flexible disability income plans underwritten by Mutual of Omaha and Assurity Life which can:

  • provide monthy income to help preserve your standard of living;
  • be customized to fit your particular situation;
  • help you retain your independence and dignity without burdening others;
  • keep your financial goals and dreams intact.
To learn more about Disability Income Insurance or to request a quote, please call 1-800-360-6117 or email info@MinnesotaBenefitAssociation.org
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