KEEP YOUR FINANCES HEALTHY
Even if you're sick or hurt.
If injury or illness keeps you off the job, you can still be prepared to pay the bills.
The benefits of health insurance, homeowners insurance and car insurance may be clear. But what about disability income insurance? How – and when – can that help?
Disability income insurance replaces a portion of your income if you're unable to work due to illness or injury. Don't think you need it? That's a common perception. But you might be surprised. Even something that seems like a minor accident could present major challenges for your family's finances.
And why they might want to think again.
It's easy to assume a disabling event won't happen to you, particularly if you're early in your career. But accidents such as falling down the stairs or slipping on the ice – or health events such as a heart attack or stroke – could make it impossible for you to work for a while.
Ongoing disability and medical bills can exceed your savings. And Social Security may deny a disability application at first. If either of those occurs, disability income insurance can help tide you over while you wait to qualify for Social Security benefits.
Some new contracts guarantee level premiums, which means young and healthy people can lock in a low rate. You can also buy disability income insurance that covers being out of work for a year or two, which would likely cost less than a contract protecting you all the way to retirement.
WHO IS IT FOR?
Could an illness or injury hurt your income? Determine how much disability insurance can help you stay financially upright – even if you're laid low.
We've had "Superior" financial strength for more than two decades.
— RATING FROM A.M. BEST, INDEPENDENT INSURANCE RATING AGENCY1
MORE TO EXPLORE
You can't necessarily call unexpected expenses "unexpected." They arise for all of us. If you're not prepared for such pitfalls, they can quickly derail your financial life. Having an emergency fund in place can provide valuable protection.
Change is inevitable. When it happens, life's big events – the celebrations and the disappointments – may be ideal times to consider if the life insurance you have is what you want. And what you need.
Your insurance strategy can help provide protection and flexibility for you and your family. In particular, cash value life insurance can provide a range of options. And getting cash out of your life insurance may be easier than you think.
1 Ratings based on Thrivent's financial strength and claims-paying ability. Do not apply to investment product performance. The rating also refers only to the overall financial status of the company and is not a recommendation of the specific policy provisions, rates or practices of the insurance company.
This is a solicitation for insurance. A Thrivent Financial professional may contact you. Thrivent Financial professionals are licensed insurance agents/producers.