Personal Disability | Parvenu Insurance Services

Personal Disability Insurance

Could you afford to live without your income?

Do you have life insurance? If so, you’ve already faced the possibility that your family would need financial protection in the event of your death. But what’s far more likely is that you’ll need the financial protection Disability Income (DI) insurance provides at some point during your working years.

Disability – a possibility you need to consider

You probably take plenty of precautions in your daily life… you wear your seatbelt, you childproof your home, you have a working smoke detector.

Still, no matter how prepared you are, accidents do happen. And disability can be the outcome. A sports injury, a car accident, an illness, a problem pregnancy, a heart attack, a serious back injury — any of these situations can result in your not being able to work at your usual job. That, in turn, means a loss of income, even if you have a relatively sedentary job.

According to a recent study, most people estimate they have only a 16% chance of becoming disabled during their working years1 in spite of the following startling facts2:

If you're under age 35, chances are one in three that you will be disabled for at least six months during the course of your career.
Men have a 43% chance of becoming seriously disabled during their working years.
Women have a 54% chance.
At age 42, it is four times more likely that you will become seriously disabled than that you will die during your working years.

Counting on your group DI? Take a closer look.

Your employer– or association-sponsored group plan may not be all you think it is. It might, for example, insure you only if you are totally disabled, even though a partial disability could mean you were reduced to earning part-time income.

Plus, one overwhelming advantage of personal DI insurance is that it cannot be reduced or terminated if you leave your current employer. You pay the premiums, you own the policy, and the benefits are paid directly to you.

1Gallup survey conducted for UNUM Corp, reported by Best's Review
2"Why Disability", published by National Underwriter