Disability Income (DI) Insurance can be a complex and convoluted concept for many. MassMutual attempts to simplify the process, with this segment of The Basics.
According to MassMutual, many folks overlook the idea of protecting what is often individuals' most valuable asset – the ability to generate an income. The same income that allows people to accumulate, and pay for, the other assets families hold dear: Disability income insurance helps protect a portion of income and provides a fundamental layer of financial security. [Read more at the MassMutual website.]
Northwestern Mutual's take on Disability is: "Whether it’s supporting your daily living expenses today or funding your retirement savings for tomorrow, your ability to earn an income is your most important financial asset.
Many people purchase life insurance to help protect their families should they die prematurely. But according to data from the Society of Actuaries, people in their working years run a greater risk of being disabled for 90 days or more than they do of dying. Disability insurance can help." [LINK for more & important disclosures.]
Northwestern Mutual on YouTube.
Principal Financial Groups says, "Everyone should protect their income and their savings against the risk and impact of a disability. Your income is your most valuable asset and is the foundation to a solid financial plan. Help make sure you can maintain your lifestyle and protect your family's future if you become too sick or hurt to work with Individual Disability Income insurance." [LINK to more detailed info.]
And finally, you may have seen the AFLA Duck talking about "what if you get hurt & can't work". Well, AFLAC's website says this: "A physician-documented disability often results in a loss of income. Our short term disability insurance pays benefits (i.e., a monthly amount that is a percentage of your gross income) for a period of time while you are disabled. Your agent will help you select the right amount of disability insurance benefits for your needs, as well as the length of time they are payable." [LINK for more.]
Watch this on AFLAC's YouTube Channel.
While DI insurance is a topic best discussed with one's financial planner or counsel, one thing is clear: insurance and financial companies that offer this insurance are undoubtedly taking advantage of new media and certainly have a noticeable presence on YouTube....