Think about it. What would happen if suddenly, due to an illness or injury, you were unable to work? Most of us think, “That could never happen to me,” until it does. Your clients’ ability to earn a living is their most important asset, and one of the best ways to protect it is with disability insurance.

However, lack of knowledge plays a big role in the lack of protection. Just 16% of adults say they are very knowledgeable about disability insurance. This indicates a need for education on disability coverage. One way to build awareness around disability income protection is by educating clients about the cost a disability can inflict upon a household. The National Disability Institute found households with one adult who has a disability require 28% more income to retain a similar standard of living than households without an adult with a disability.

LIMRA’s 2024 Insurance Barometer Study found that 20% of adults say they intend to purchase disability insurance coverage within the next 12 months. Oftentimes, the intent doesn’t necessarily translate into action. During Disability Insurance Awareness Month, the industry has an opportunity to keep educating consumers and hopefully spur them to purchase the coverage they need to protect their income.

Check out the available resources to help you educate your client network.

Source: https://www.limra.com/en/newsroom/industry-trends/2024/disability-insurance-awareness-month-protecting-your-paycheck-and-your-future/#:~:text=The%202024%20Insurance%20Barometer%20Study,ownership%20may%20be%20far%20less.

DIAM-Keep DI Top of Mind