My Personal Experience With The Value Of DI Insurance

When I speak from the stage about the value of DI, I’m often approached by people in the audience who share their stories. Many have regrets. If only they had planned ahead life would have been different. They and their family members know all too well the financial burden that a disability places on a family. All family members are affected, not just the person with a disability. Life dreams come to a sudden halt after a disability. People with disabilities, without work income or DI, no longer have the resources to build their lives and execute their plans for a better day. People take for granted how important it is to earn a living. I think it’s a person’s greatest asset.

People who start their own businesses need to budget for DI from the beginning. I often hear business owners complain that DI is too expensive. My reply, “If you think DI is too expensive try living without it!” Entrepreneurs who are making the leap to being self-employed should take a careful look at all their expenses and fully realize how important it is to limit their risk through a DI policy. There are many ways to carve out a budget and the investment in a DI policy should not be compromised.

The U.S. economy is facing turmoil with the state of the stock market, massive corporate layoffs, decreased sales in the marketplace, and thin profit margins. Business owners and their employees need to cherish every paycheck, sales commission, or bonus they receive.

Many families find themselves in a position where one member of the household loses their job or has their hours cut. This income loss compromises lifestyles. For the family member fortunate enough to still be working, hopefully the harsh reality sets in that should that member of the family become disabled and unable to work, there would be no household income. DI becomes even more critical to own during the current economic recession.

When I talk with insurance professionals I share the statistics. The likelihood of being disabled for more than 3 months is greater than dying in any given year. At age 32, the chance of being disabled 90 days is 6.5 times greater than the chance of death. The conclusion I make is that DI is more important than life insurance and should be purchased before life insurance.

There is also a big misconception in the minds of American workers. They think a disability will never happen to them. They don’t realize how vulnerable they are to the fact that, literally, in a second life can change. Many also are incorrect in their assumption that most disabilities are caused by an accident. The facts show that 90% of the time they are caused by illnesses. Often these illnesses are exhibited as a result of genetics passed on by our parents. Not all of the disabling illnesses are physical; some are mental illnesses that are just as debilitating.

Rosemarie Rossetti, Ph.D., is a well-known speaker and DI insurance sales expert. She can be reached at [email protected]