Disability Insurance Awareness Month

In this article, I’ll explain why May is Disability Insurance Awareness Month (DIAM) and how it’s the most misunderstood insurance. DIAM is a campaign to raise awareness of disability insurance, which is often misunderstood.


Disability Insurance Awareness Month


Disability insurance awareness month

The insurance sector collaborates to raise public awareness about income planning and protection during this period.

It’s wise for US working individuals to regularly evaluate their financial plans regarding disability income insurance.

What is disability insurance?

Disability insurance can provide financial support if you’re unable to work due to illness or injury, covering a portion of your missed salary.

Short-term, long-term, individual, and supplemental plans are available, with options from private insurance companies, employer group plans, or state governments.

Types of disability insurance

The state of disability coverage in America

A significant number of employed individuals in the United States are currently grappling with a pressing issue: insufficient disability insurance coverage.

This predicament has been exacerbated by various factors, including the absence of emergency savings, the escalation of medical expenses, and a general decline in the number of employers providing benefits to their workforce.

What are the chances of disability?

The likelihood of disability before retirement for 20-year-olds today is slightly above 25%.

In most cases, accidents are not responsible for this. Instead, conditions such as back injuries, cancer, heart disease, and other illnesses are the main causes of prolonged absences.

Reducing chances of disability

Developing good habits and embracing a healthier way of life can yield numerous advantages, not only for yourself but also for the individuals who care about you and wish for your longevity.

  • Watch your weight
  • Quit cigarette smoking
  • Embrace regular check ups
  • Get regular exercise
  • Get regular cancer screenings
  • Stop excessive drinking
  • Be safety minded

Why disability insurance is important

If you become unable to work and earn a livelihood due to an illness or injury, disability insurance can offer you a portion of your income.

How much is needed for disability insurance?

To determine your required disability insurance, first sum up your monthly expenditures. Then, combine the amount of disability insurance you currently possess with any individual savings that you could access in case of inability to work.

If the total falls below your monthly expenses, contemplate purchasing additional disability insurance.

How to manage disability insurance policy

Consulting a licensed insurance agent and reviewing your disability insurance is wise whenever you undergo a life change such as starting a new job, getting married, having a baby, taking on new debt, or receiving a significant raise.

Additionally, it’s advisable to schedule an annual review of your disability insurance benefits with your agent to ensure that everything is in order.

How to receive disability insurance benefits

In order to be eligible for disability insurance benefits, it will be necessary for you to satisfy the definition of disability outlined in your policy.

Additionally, there might be an elimination period for disability insurance, which is a waiting duration ranging from a few weeks to a few months that you must endure before becoming eligible for benefits.

Disability insurance resources

DIAM presents a favorable occasion for agents and advisors to deliberate on the advantages of including a disability insurance policy in their protection portfolio.

  1. Consumer-facing DI guides explaining disability insurance basics, complete with statistics and figures
  2. Agent pre-approach letter to get the conversation going
  3. Social posts and fillable forms from a trusted carrier
  4. Agent sales guides from a trusted carrier

How to choose the best disability insurance

To determine the most suitable disability insurance plan for you, begin by calculating your monthly expenses, which should include rent or mortgage payments, utilities, food, insurance, debts, and other necessary expenses.

This calculation will help you establish the amount of money you would require in case you become unable to work.

Next, identify other potential sources of income that could assist you in covering your bills in the absence of your salary.

These sources could include your spouse’s income, savings, or sick leave provided by your employer.

After determining your expenses and potential sources of income, you can then calculate the amount that your disability benefits would need to cover.

It’s also important to consider how quickly you require payments since a longer waiting period typically results in lower monthly premiums.

When disability insurance bad

  • The Inability To Pay Claims
  • Financial Instability
  • Poor Customer Reviews

Best disability insurance companies in USA

  1. MetLife
  2. The Standard
  3. Guardian
  4. Mutual of Omaha
  5. Principal
  6. Northwestern Mutual


May is Disability Insurance Awareness Month (DIAM), which is a campaign to raise awareness of disability insurance that can provide financial support if you’re unable to work due to illness or injury.

However, a significant number of employed individuals in the US are currently grappling with insufficient disability insurance coverage.

The article highlights the types of disability insurance, the state of disability coverage in America, the likelihood of disability, ways to reduce chances of disability, the importance of disability insurance, and how to manage disability insurance policy.

It also provides disability insurance resources, tips on how to choose the best disability insurance, and a list of the best disability insurance companies in the USA.

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