Disability Insurance

If your client loses income for an extended period, how will that time gap affect their home, their family and their savings and retirement? Without a plan or disability insurance product, a family could lose their home and put a strain on their budget to make ends meet. Some people think of disability insurance as “paycheck protection.” AIP Marketing Alliance has disability insurance carriers available for your agents and clients who are looking for the protection of disability insurance.

Disability Insurance

If your client loses income for an extended period, how will that time gap affect their home, their family and their savings and retirement? Without a plan or disability insurance product, a family could lose their home and put a strain on their budget to make ends meet. Some people think of disability insurance as “paycheck protection.” AIP Marketing Alliance has disability insurance carriers available for your agents and clients who are looking for the protection of disability insurance.

Disability Insurance Trends

According to the Council for Disability Awareness, millions of working Americans are facing a growing crisis: a lack of adequate disability insurance coverage. At least 51 million working adults in the United States are without disability insurance other than the basic coverage available through Social Security.

What are the chances that your clients get disabled? Higher than you may think according to the Council of Disability Awareness. Just over 1 in 4 of today's 20-year-olds will become disabled before they retire.

Accidents are not the usual culprit for disability. Back injuries, cancer, heart disease and other illnesses cause a major of long-term absences.

Raising Awareness About the Importance of Income Protection

During April and May 2021, The Council for Disability Awareness ran the Family Matters Campaign to raise awareness about the importance of income protection. Here are some key points about the importance of disability coverage for families in uncertain times.

  • Many working Americans think if they had to miss work for a disability, they would use sick days or paid time off, but is that realistic?
  • The duration of the average long-term disability claim is 34 months. Much too long for sick days or paid time off to cover unexpected situations.
  • 31% of single, working women say they are extremely unprepared financially for illnesses, injuries, and pregnancies that put them out of work for a period of 3 months.
  • 52% of single, female workers in America have no disability insurance.
  • Between April 2020 and March 2021, 38% of adult Americans reported symptoms of anxiety and/or depressive disorder. Up from only 11% in 2019.
  • People diagnosed with anxiety and/or depression are more than twice as likely to experience a disabling physical illness or injury that keeps them from working.

Now as much as ever, it's important to understand that without some kind of income protection, more Americans could face severe financial difficulty if they need to miss work due to illness, injury, or pregnancy.


What is Disability Insurance?

Disability Insurance is an income protection policy that provides monthly benefits to supplement the loss of wages during an unforeseen injury or illness. Disability Insurance is designed specifically to help cover those basic expenses while your clients recover from an illness or injury and protect the things that are most important to them.

If your client loses income for an extended period, how will that time gap affect their home, their family and their savings and retirement? Without a plan or disability insurance product, a family could lose their home and put a strain on their budget to make ends meet. Some people think of disability insurance as “paycheck protection.”

Disability insurance functions like many other insurance policies in that your client pays a set amount at regular intervals and in exchange, he/she receives benefits if he/she uses the policy. The monthly benefit can help protect their home since a mortgage or rent payment is often a significant monthly expense.

Each client’s situation is different. AIPMA has an experienced Business Development team to discuss product differences, answer questions, and generate illustrations to help you show life insurance product options to your clients. Contact our Business Development Team at (800) 783-5206, Prompt 2 or marketing@aipma.com.


Facts/Trends About Disability Insurance

  • Only 40 percent of US households have enough in liquid savings to cover at least three months of their recurring expenses, and only 28 percent can cover at least six months.*
  • Three out of ten American adults indicate they can’t pay an unexpected $400 bill without having to carry a balance on their credit card or borrow money from friends, family, or the bank.*
  • One in four of today’s 20-year-olds can expect to be out of work for at least a year because of a disabling condition before they reach the normal retirement age.*
  • Each year around 5% of working Americans will experience a short-term disability (six months or less) due to illness, injury, or pregnancy. Almost all of these are non-occupational in origin.*

*Source: Council for Disability Awareness

Contact us at chrish@aipma.com or give us a call (800) 783-5206

Is Your Agency Selling Disability Insurance Products?

Why not? By adding a new product line, your agents can see how cross-selling to current clients also can attract prospects. AIPMA will work with you and your agents to get them contracted to sell disability insurance. Simply click the button to the right to schedule a conversation with our Vice President of Business Development, Chris Howe.

Contact Us

800.783.5206

2041 E. Square Lake Road, Suite 100, Troy, Michigan 48085-3897

About Us

For more than 40 years, AIP Marketing Alliance (AIPMA) serves as a premier life insurance and annuity distribution partner to provide full-service support to independent wholesalers, brokerages and agents from our Troy, Michigan office. Copyright 2022