Many people mistakenly assume that in the event they were to become disabled and unable to work, their incomes would be protected by Social Security Disability benefits. Unfortunately, the truth is often far different from what people expect. Although there is a disability program in place, there is a long
wait for benefits, as well as tight restrictions. Additionally, the amount of money people receive from the Social Security Administration is, in many cases, not enough.

Many people find themselves without income for years before receiving benefits. Disability insurance provides the means to continue receiving a good portion of your income in the event you are unable to continue working due to a disability. But why isn’t Social Security Disability enough? Why do you need disability insurance?

But I Won’t Become Disabled…

You may consider yourself at very little risk of ever becoming disabled; however, consider this: The Social Security Administration reports that a 20-year-old worker has a 30% chance of becoming disabled before reaching retirement!

If you were to become disabled, and if you were to be approved and you began receiving disability payments, would it be enough to protect your income? Not likely. The average monthly benefit for a disabled worker is only $1,165.23. If your current income is higher than this amount, you’ll be taking a loss right off the bat if you had only Social Security disability to rely on. Let’s not forget, also, to factor in the months or years without any income at all during the time you applied for and waited (and maybe were rejected and appealed) for benefits. By the time your $1,165.23 monthly payments started coming in, your finances could easily be in the red by tens or even hundreds of thousands of dollars.

Social Security Disability is not Guaranteed

If you have a severe injury or disability that doesn’t meet Social Security’s guidelines for qualifying for benefits, how are you going to be able to protect your income, yourself, and your family? It’s never safe to assume that you will qualify for Disability benefits, and it also isn’t safe to assume that if you do qualify, that it will be enough to sustain your household.

What about Workers’ Compensation?

Although workers’ compensation is mandatory in every state, it covers injuries sustained on the job only. If you are injured anywhere other than at work or you fall ill, this coverage wouldn’t apply to you. Most employers do also offer a limited group disability insurance policy, but it still might not provide enough protection to prevent financial devastation.

The Solution: Disability Insurance

Think of disability insurance as paycheck protection! If you have own-occupation disability insurance, you could receive monthly benefits to cover most, if not all, of your income. Without a paycheck, bills will add up very quickly, medical expenses will mount in a short amount of time, and it will be difficult to buy groceries, fuel and other items to sustain your daily activities. Disability insurance is a monetary cushion that is designed to keep you from suffering from financial ruin – which is of the utmost importance, especially when medical issues pertaining to a disability are often more than stressful enough. Even if your family has two (or more) paychecks from work coming in, the loss of one of them can become crippling very quickly. There are many options available, and we’re here to help answer your questions and address your concerns. When considering disability insurance, be sure to review all of your options and compare plans, benefits and premiums. At, we can provide you with quotes from multiple A-rated companies. Get started now to protect you and your family.