Income protection is important since illness or injury could prevent working and reduce income, yet people rarely consider this risk. Disability insurance provides monthly benefits if unable to work due to sickness or injury, replacing part of lost income. While the average car costs around $30,000, the average disability claim lasts 4 years, with illness being the leading cause. Disability insurance is more affordable than many other regular expenses and helps reduce the risk of a disability leaving one unable to pay living expenses.
1. NOT FOR USE IN CALIFORNIA AND FLORIDA.
Income Protection Realities
Income is critical to most workers’ financial security, yet they rarely think about how an illness or injury
could prevent them from working and put their income at risk.
You
protect
your
Income... your most valuable asset
Average price
of a car
Average duration for all MassMutual DI claims based
on claims incurred from 1986 - 2013: 4 years
Illness
90%
The Disability
Income Gap is the
difference between
current net income
and the income you
would receive if you
became disabled.
Look at how the annual cost of Disability
Income (DI) insurance compares to annual
costs of other products/services.
Why not
protect your
$400,000
Salary
$100,000
Bonus
$300,000
Net Income
Annual
Gross Income
Net Income
Net Income
After a Disability
The sample rate shown is for a male. DI insurance costs
for a woman using the same parameters is $1,461.
Home Car Life Identity Income
Most common cause of disability3
Average price
of a house
$50,000 salary
of a 35 yr. old
retiring at age 65
$1,500,000
$366,0002
$33,5431
accident/injury
10%
not
Disability Income Gap
$7634
$9845
$1,2006
$9297
Large
coffee
Satellite
television
Smartphone
service
IndividualDisability
IncomeInsurance
20-year-olds will become disabled before they retire8
1 in 4
Chart assumes a 25%
tax rate. Actual tax
rates may vary.