How long could the average American family last without a paycheck to cover life’s expenses — food, lodging, transportation, child care? A study by the LIFE Foundation reveals that 70 percent of working Americans could not go even a single month before suffering significant financial difficulties.
Yet, many people think they either do not need or cannot afford disability insurance. That discrepancy is a big reason why May is “Disability Insurance Awareness Month,” an effort by the industry to spread the word about how important it is for working Americans to protect themselves and their families from financial consequences should they become sick or injured and can no longer work.
While consumer education is part of the campaign, a strong emphasis is on getting agents to reach out to the public and raise DI awareness. The LIFE Foundation provides a toolkit agents can use to communicate with clients and prospects about their DI needs.
Another great resource is a recent InsruanceNewsNet.com article that dispels four leading myths that may discourage clients from considering DI:
- I have enough savings to get by
- I don’t work in a profession where I’m likely to be disabled
- The government will take care of me
- I have coverage at work