An article today from The Sacramento Bee advises getting disability insurance especially if you’re self employed or an independent contractor who doesn’t have an employer sponsored disability insurance plan.

The article also states:  “Even for high-income individuals already covered by their employer’s group disability plan, the additional coverage can make sense to compensate for bonuses and commission income not covered by most group plans.”

Disability insurance isn’t just for white collar professionals.  Some of the highest paid people with the highest risk of losing their occupation are professional athletes.  There is disability insurance available for athletes that the experts at Protectyourincome.com can help with.

A recent article from the Pittsburgh Tribune Review reviews this subject well.  Here’s an excerpt:  “With the NFL Players Association union able to negotiate more dollars on behalf of the players, a college athlete could potentially lose millions of dollars if he got hurt.”

The average NFL salary has jumped more than 1,000 percent during the past 25 years, from $152,800 in 1983 to an estimated $1.75 million this year, according to the NFL Players Association.”

The article says:  “Financial security isn’t cheap” but complete the thought…. It provides security.  A small amount paid to insure the risk.

There is a very helpful article from inc.com that may be of value to help business owners who may not have thought about the issue of what happens when an employee becomes disabled.

If you own a business you don’t want to be put in that position.  By getting disability insurance for your employees or your key employees you shift the risk and the decision to the insurance company.

As the article states: “Most successful small business owners have some key, valued employees in what they consider their “business family” — people they’d have a hard time replacing. Here’s my question: What if one of these key people gets sick and misses work for months or even a year? How long will you go on paying them? At what point will you stop paying them? No one likes to think about this, but there has to be a point, doesn’t there?”

Let the insurance company be the one who makes the decisions and most importantly makes sure that income continues for the employees.

We like the theme of this article on disability insurance from the Street.com.  The theme is a  familiar one to those who have followed this blog or read through our disability insurance site, protectyourincome.com.

The article states:  “Disability insurance insures what’s extremely likely to be your biggest asset: your future income. That’s the reason disability insurance is so important.”

It is that simple.  Unless you’ve already built your net worth to a substantial amount, your future income is your biggest asset.  That’s why you should learn more about and then obtain disability insurance.

The News 8 out of Austin Texas website substantiates some of the statistics about disability including the fact that:

“Almost three out of 10 of today’s 20-year-old will become disabled before age 67. Yet, less than a third of workers in private industry have disability insurance.”

The statistics on disability give compelling reasons why you should look into disability insurance.

As the St. Louis Post Dispatch web site asked today: Do I need disability insurance, either short- or long-term?

The article gives the simple answer: “If you have sufficient emergency resources to maintain your household for 90 days, you may only need to consider long-term disability. If you don’t, short-term disability may be necessary as well.”

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The web site for the Orlando Sentinel has a helpful article on disability insurance discussing the importance of insuring one’s income while also planning for retirement.

As we’ve discussed in this blog, unless you’ve already built your nest egg, probably your largest asset is your future income.

This is an excellent overview of disability insurance by the St. Louis Post Dispatch web site. It covers the difference between own occupation and “any occupation” disability policies and some of the key components and considerations a buyer should have when shopping for these policies.

Channel 8 News in Austin, Texas continues the parade of media recommending disability insurance.  In an article entitled, “Disability insurance can be a good investment,” the author takes a statistic about disability that’s on the protectyourincome.com site that indicates (quoted from the article):  “Disability is not much fun to talk about, but that fact of the matter is that three out of 10 of today’s 20-year-olds will be disabled and unable to work for some extended period of time between now and the time they are 65 years old.”

The author goes on to talk about some of the important provisions of a disability income insurance policy including the definition of disability including the own occupation definition of disability and making sure to get a policy that is guaranteed renewable and non-cancelable.

Today there was an article from Insurance News where the President of The National Association of Insurance Commissioners, Walter Bell, stated:  “. . . disability insurance is critically important in having financial security.”

This was based on a study from The National Association of Insurance Commissioners that indicated:  “….NAIC said majority of Americans are not ready to cope with the possibility of becoming disabled and unable to work. More than half of the respondents said if they were unable to work for a year because of disability they would not be able to pay their bills or meet expenses. While the effect of disability on finances can be significant, 87% of the respondents believe disability is something that won’t happen to them.”

Even though 87% of respondents said that disability won’t happen to them one of the statistics on disability as stated in the article is as follows:  “In 2000, the U.S. Census Bureau reported that almost 20% of the population suffered from some form of long-lasting condition or disability. Social Security cited a study showing that a 20-year-old worker’s chances of becoming disabled before retirement is 3 in 10.”