When asked about their most valuable asset, most people will mention their house, car, or retirement account. However, for many, the most valuable asset is actually their income or ability to earn a living. Unfortunately, disability insurance remains one of the most overlooked types of coverage in financial planning. This is concerning given that 78% of Americans live paycheck to paycheck (1). This dependence on a steady income stream is why almost half of people presented with disability insurance will buy some sort of policy (2). Help your clients prepare for the unexpected by showing them the value of income protection.
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If you’re still hesitant to discuss income protection products with your clients, consider these statistics:
  • At least 51 million working adults in the United States are without disability insurance other than the basic coverage available through Social Security. (3)
  • 95% of long-term disability claims are not work-related, meaning workers' comp plans will not help. (4)
  • For every 1 house lost by fire, 48 are foreclosed upon as a result of a disability. (5)

Reach out to AMG at 706-543-7346 for support and resources that make it easy to add Disability Insurance to your portfolio of client solutions.

Our Disability Insurance Carriers

Sources:
  1. 2017 CareerBuilder Survey
  2. LIMRA MarketFacts Quarterly, Number 1, 2012
  3. American Council of Life Insurers, unpublished data from study released in September 2017 as Assessing Americans’ Financial and Retirement Security. ACLI found that 54.3% of non-retired households (51.3 million in total) did not report having disability insurance. Assuming there is at least one adult in each household, this means the number of “uncovered” adults is at least equal to the number of “uncovered” households.
  4. Council for Disability Awareness, Long-Term Disability Claims Review 2012
  5. CommInsure Claims Experience, 2010.