The Cost of a Disability
Long Term Disability
You could lose far more than your income.
Most people don’t like to think about the consequences of a disability and, frankly, very few think it will happen to them.
Discounted Income Protection Plans
Our individual plans provide coverage in the event you’re too sick or injured to work or to care for your family. Own and keep your policy, even if you change jobs.
The truth is an illness or injury—and the accompanying financial challenges—can happen to anyone. Almost one in four of today’s 20-year-olds can expect to be out of work for at least a year due to a disabling condition before they reach the typical retirement age.1
The cost of a disability extends beyond lost income. People with disabilities encounter a wide range of expenses that can weigh heavily on a family’s finances.
Common factors that contribute to the higher cost of living with a disability include:
- Medical expenses not fully covered by insurance, including specialized treatments, medication, rehabilitation services, and ongoing medical care
- Costs for assistive devices like wheelchairs and other mobility aids
- Home modifications such as installation of ramps or grab bars and widening of doorways
- Personal caregivers to assist with daily activities
- Added transportation costs for those unable to drive or those requiring vehicle accessibility modifications
In addition to higher living costs, a disability can have harmful long-term effects like lost educational opportunities for children, loss of homes, and drained retirement plans. According to a 2024 study, those without disability insurance say their families would resort to tapping into personal savings (48%) or retirement funds (26%) to meet their day-to-day expenses.3
Why shoulder all of this risk when Long Term Disability insurance can help safeguard your financial security? Our Advisors can help you customize a plan for your circumstances and your budget. Schedule a no-obligation consultation today.
1 “Millions of working Americans face a growing crisis: a lack of adequate disability insurance coverage,” Council for Disability Income Awareness, thecdia.org, accessed February 2025.
2 “The Extra Costs of Living with a Disability in the U.S. — Resetting the Policy Table,” national Disability Institute, nationaldisabilityinsitute.org, accessed February 2025.
3“Disability Insurance Awareness Month: Protecting Your Paycheck and Your Future,” LIMRA.com, May 2024.
