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Feb 25
Disability: A Gamble Worth Taking?

 

Your most important asset is not your car, house, boat or other possessions. It is your ability to earn an income. An accident or illness that causes a disability can prevent you from earning an income. While most people think it won’t happen to them, statistics show that this isn’t true. According to the Commissioners Disability Table it is far more likely that your clients will suffer a disability than be in an auto accident or have a house fire.

In fact, the chances of suffering a long term disability of 90 days or more before an individual reaches the age of 65 are unbelievably high: a 25-year old has a 52% chance of becoming disabled; a 35-year old has a 48% chance; and a 50-year old has a 34% chance. The odds are not in your favor.

People often incorrectly believe they will be covered by Social Security, workers’ compensation or their own savings. This simply isn’t true most of the time. Social Security disability is often difficult to obtain since the restrictions state the client must be completely disabled with no hope of recovery for at least one year. Workers’ compensation only covers if you are injured on the job. And personal savings goes fast when trying to keep up with the mortgage, care and other obligations. Although these programs can help supplement your income you cannot realistically expect to recoup your entire income using these sources.

A quality disability policy will provide coverage in the event of disability. Big “I” Employee Benefits offers a variety of Disability Solutions through our partnership with Crump Life Insurance Services. Visit our web site to learn more about disability and other Big “I” Employee Benefits.

Contact Christine Muñoz, Big “I” Director of Employee Benefits, at christine.munoz@iiaba.net for more information.

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​127 South Peyton Street
Alexandria VA 22314
​phone: 800.221.7917
fax: 703.683.7556
email: info@iiaba.net

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