What do you want to know
- Life insurance and retirement provision occupied a prominent place.
- The COVID-19 pandemic has complicated underwriting,
- Many marketers insist that disability insurance can protect the income needed to support retirement planning efforts.
life happens and other groups are trying to remind consumers — and insurance agents and retirement planners — that nearly all positive financial decisions hinge on a worker’s ability to earn a paycheck.
The groups kicked off the 16th annual Disability Insurance Awareness Month awareness campaign on Sunday.
Life Happens offers finance professionals and other campaign supporters access to a free set of educational materials, including flyers, brochures and social media-friendly graphics.
For organizations that pay a subscription, the nonprofit group offers access to a larger library of disability insurance content, as well as videos featuring real people who have used disability insurance to help their families through difficult times.
“Disability insurance is arguably the most misunderstood of all major insurance,” says Devin Pascoe, Marketing Director of Life Happens, in a resource guide for the group’s 2022 Awareness Month. “If you live long enough, there is a very good chance that you will have a disability during your lifetime. This is why disability insurance is so important. It provides part of your income if you are unable to work.
Campaign participants point out that workers’ compensation protects workers against only a small percentage of health problems that lead to disability, and that the main public disability assistance program, the The Social Security Disability Insurance Program, has an average monthly benefit for most recipients of just $1,358 per month.
Another revenue planning tool
Pascoe and other campaign supporters have also tried to make it clear that disability insurance is as much an income planning tool as an annuity.
Many of the agent and distributor campaign supporters are supporting a social media awareness effort that displays the slogan “May is Disability Insurance Awareness Month”, with the word “disability” crossed out and replaced with the word “income”.
Bryon Holz, an RIA with SagePoint Financial, is an example of a finance professional using the image on Twitter.