This year the coronavirus pandemic has taken center stage, but that doesn’t mean May isn’t still Disability Insurance Awareness Month.
Each year, LIMRA joins Life Happens, which created and coordinates the DIAM campaign, along with others in the insurance industry, to raise awareness about the importance of income protection.
The theme of this year’s is campaign is “Reality Check.” Without disability insurance, 50% of Americans said they would use their savings to help them meet their expenses if they were unable to work due to illness or injury. This statistic underscores consumers’ need for a reality check when it comes to protecting their family’s financial future.
Millions of working Americans are facing a growing crisis: a lack of adequate disability insurance coverage. Without some kind of income protection, more Americans are experiencing severe financial difficulty if they need to miss work due to illness, injury or pregnancy.
Disability insurance is more important now than ever. According to the Social Security Administration, 1 in 4 of today’s 20-year-olds will become disabled at some point in their career.
As we’ve seen from the recent pandemic, life can change quickly. An illness or injury could take away the ability to earn a living. An income in the form of a steady paycheck is a person’s most valuable asset and provides for them and their loved ones. Protecting a paycheck with disability insurance can secure a family’s financial future.
LIMRA put together a fact sheet to highlight disability insurance ownership trends and knowledge about the need for having this coverage.
New DIAM spokesperson
This year, Scott Rider is the new spokesperson for DIAM. As a former financial advisor Scott was fortunate to understand how important it was to insure his income with disability insurance.
His healthy life changed when he was diagnosed with Parkinson’s at just 47, but thankfully, Scott had the safety net of disability insurance, which enabled him and his family to maintain the lifestyle they’ve always known.
To see how Rider delivers the disability insurance message, check out his Real Life Story.