Are You Protecting Your Most Valuable Asset?

May 5, 2026 / Mike Hoskins / Comments Off on Are You Protecting Your Most Valuable Asset?

Most people think that their most valuable asset is real estate, investments, collections, etc.  It could be argued that one’s most valuable asset is the revenue they generate through a job or a business. 

What would you do if you were too sick to work or had a non-work-related injury/illness that did not allow you to work?  How would you pay your bills and buy food?  How long could you last without a paycheck?  For most people, the answer is “not too long.”

According to the Council for Disability Income Awareness, a majority of all disabilities are the result of illness.  If you are unable to work due to illness or a non-work-related injury and your employer does not offer any type of disability coverage, an individual disability policy could provide you with the additional monthly income you need.  It can help pay for essentials like food, utilities, house payments, car payments, school tuition, and more.   It is not just for catastrophic events.

Individual disability insurance can supplement your income during the months you take off after having a baby or while you are working intermittently as you go through cancer treatment.

Types of Disability insurance:

Short-term disability (STD) insurance

Short-term disability (STD) insurance is designed to protect you from loss of income if you are sick or injured and cannot work for a short period of time.  Typically, STD covers 50% to 60% of your salary during an absence of 3 to 6 months.

Long-term disability (LTD) insurance

Long-term disability (LTD) insurance is designed to protect you from loss of income if you are sick or injured for more than 6 months.

LTD benefits usually replace 50% to 80% of your salary.  Benefits are generally paid monthly and can help you meet living expenses during a long illness or while you are recovering from a major injury or illness.

Asset Disability Insurance insurance

How much disability coverage do you need?

The level of disability coverage needed will vary from person to person. To determine what is right for you, estimate how much you would need each week or month to cover your living expenses if you could no longer work (be sure to account for the money in your savings and other sources of income).  Next, review your employment benefits to determine if any short and/or long-term disability insurance is available to you.  Finally, review with an insurance professional how to address any shortfall utilizing an Individual Disability Insurance policy.

For more information

Contact us if you have questions about what plan is right for you.  We can help you calculate how much coverage you need and which policies options will help offset your income should you become too sick or injured to work.

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Mike Hoskins