This post comes courtesy of Chase Smith, Northwestern Mutual.

As Superman, Reeves could deflect bullets and could not be harmed. However, in reality he was in a tragic accident that paralyzed him and made him wheelchair bound for the most of his remaining days after his role as one of the most famous super heroes.
So this is what disability insurance covers right? The answer is yes but that doesn’t tell the whole story. Unfortunately there are many things that are more common and that prevent us from being able to perform our jobs for extended period of time.
Here is where the C word rears its ugly head. The number one cause of disability claims is cancer and the chemotherapy that is associated with it. To give you an idea, the chances of an individual to have a disability during their working years prior to age 65 is 25%. That means one in four people will be out of work for more than 90 days and unable to earn income for at least that long. That begs the question, what would you do if you were unable to work for an extended period of time?
In the world we live in today people insure their cars, homes, boats, cell phones, and just about every other asset that they own. In contrast, the majority of this country doesn’t insure the most valuable thing that they have which is their income.
Many companies provide a benefit to employees for disability insurance but it almost always falls short of the amount of coverage needed and is designed for each employee to have a supplemental policy they put in place on their own.
Homeowners take out insurance policies on their home; it is law that you have insurance if you own a car; and most people who own a phone have insurance on that as well. This simple logic would dictate that if you have an income you should look into having disability Insurance to protect that as well.
About the Contributor
Chase Smith is a graduate of University of Missouri-Saint Louis
Bachelor of Business Administration (B.B.A.), Business Administration and Management, General
Visit him on Chase Smith, LinkedIn.