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May Is Disability Insurance Awareness Month

Each year, the Council for Disability Awareness (CDA) reminds the American public about the risk of income interruption due to illness or injury, the financial consequences of being unprepared and the importance and value of disability insurance. This year’s CDA campaign is “Income Protection Through Every Stage of Life”, which recognizes that people in different life situations have different financial considerations, concerns and needs. The campaign focuses on four important life stages:

• Young workers and millennials;

• New and growing families;

• Empty nesters;

• And those nearing retirement.

About two-thirds of the American workforce has no private disability insurance. This leaves them vulnerable to the financial consequences of an illness or injury that prevents them from earning an income. Without insurance, most long-term disabled American workers are forced to rely on government programs, primarily Social Security Disability Insurance.

The government provided benefits are inadequate for most earners to continue to meet their financial obligations and maintain their standard of living. Even those experiencing a short-term illness or injury can quickly run out of money without a backup plan for their income.

Disability insurance and other income protection insurance products can help working Americans protect themselves against this risk and alleviate potential financial consequences.

HORAN reviews our clients’ plans to ensure that the contract provisions fit your current and your future income replacement needs.

To contact HORAN for more information and a plan review, click here

For more information about Disability Insurance Awareness Month and how different life situations have different financial considerations, concerns and needs, click here