This post about disability income insurance is sponsored by Ameritas, and I have been compensated for my participation. All opinions are my own.
There are certain stages in life when it is important to think about your insurance coverage: when you get a job, retire, buy a car, and of course, when you get married. Most newlyweds recognize that a few insurance topics need to be dealt with after they get married. For example, you aren’t going to want to keep two car insurance policies if you can save by combining them under one policy. The same thing goes for health insurance. However, there is one other type of insurance I really wish that we had considered after we got married: disability income insurance. Why didn’t we consider it? Well, like most of you, we didn’t want to think about the circumstances that would lead us to need this type of insurance.
Why newlyweds need disability income insurance
Disability income insurance will provide income if you are unable to work due to an illness or injury. Not having disability income insurance is really like gambling on your health; hoping you will be healthy for your remaining years of work. However, if you contribute to the household income, you should really consider having disability income insurance.
Here are some things to consider:
- Would you and your spouse be able to live for a long period of time without your income?
- Do you have any savings?
- Would you deplete your savings if you were unable to work?
Our disability story
In July of 2014, Dan and I realized that his bipolar disorder was getting too difficult for him to handle. Over the year prior, he had been in and out of work on Family Medical Leave during his times of depression. When he had manic episodes, he would go to work, but wouldn’t be able to concentrate on any projects to completion.
When Dan still wasn’t back to work in December 2014, he looked at his disability income insurance through his job. He knew he had it, but didn’t really know what it would provide. Turns out that it would only cover half his pay! We were fortunate that I was making enough money to keep us afloat.
Eventually, he also applied for Social Security Disability Insurance (SSDI). When he was finally approved (which is not an easy task), we found that he would make even less than the insurance through his work. This is quite common.
At this point, we were really kicking ourselves for not paying closer attention to this type of insurance. You never know when you may need it. I know that we never thought we would be in this situation!Do newlyweds need disability income insurance? Read this story!Click To Tweet
How to get disability income insurance
After reading our story, I hope you are thinking more seriously about this type of insurance. But how do you go about getting it? First, you should check with your employer.
- Do they offer disability income insurance?
- Would it be enough if you suddenly are unable to work?
We help make the lives of our customers and their families better by offering proven, trusted and valued insurance and financial solutions over lifetimes. This is what we do and we strive to do it better than anyone.
With a mission like that, I think they are perfect for newlywed couples. Having your financial and insurance issues dealt with in one location over your lifetime, really simplifies things.
In addition to disability income insurance, Ameritas also deals with dental, vision, hearing, and life insurance. As newlyweds, life insurance is also something you should be considering.
Don’t wait until it is too late like we did. Head over to the Ameritas website to get more information about disability income insurance.
Do you and your spouse have disability income insurance?