The Fundamentals of Disability Insurance
Disability insurance pays benefits when you are unable to earn a living because you are sick or injured. Most disability policies pay you a benefit that replaces a percentage of your earned income when you can't work.
Why would you need disability insurance?
Your chances of being disabled for longer than three months are much greater than you may realize. According to the Social Security Administration, 1-in-5 Americans live with a disability. More than 1-in-4 20-year-olds become disabled before reaching retirement age*. The possibility of not being able to earn a living due to a disability increases your need to protect your income with disability insurance.