Disability Insurance
Disability Insurance Ohio
When you think of your assets, you probably picture tangible things—your home, car, or retirement account. But what about your ability to earn a living? At Crocker Financial Group, we believe your most valuable asset isn’t something you can touch—it’s your income. Without it, meeting your monthly expenses after illness or injury can become impossible.
That’s why disability income insurance is essential. Often called “paycheck protection,” it replaces a large portion of your income if illness or injury prevents you from working. Combined with life insurance, it forms a safety net that helps ensure your family can maintain their lifestyle—keep their home, pay bills, and protect what matters most—even when tragedy strikes.
Why Do I Need Disability Insurance?
Most people don’t think they’re at risk of becoming disabled—but the reality is sobering. According to the U.S. Social Security Administration, one in five Americans (56 million people) are currently living with a physical or mental disability. Even more striking, one in four of today’s 20-year-olds will become disabled before reaching retirement age.
Without a reliable disability insurance plan, your family’s financial stability could be at serious risk if the unexpected happened—especially if your income helps pay household bills or the mortgage. With many American families relying on two incomes to make ends meet, the sudden loss of one paycheck can create a devastating financial strain.
It’s also important to understand that relying solely on Social Security Disability benefits may not be enough. Qualifying is extremely difficult: the SSA applies a strict definition of “disability,” requiring you to be unable to work in any occupation you could be trained for based on your education or experience.
By contrast, private disability insurance purchased through an insurance professional typically uses an “own-occupation” definition—meaning you’re covered if you can’t perform the duties of your specific job. This makes proving eligibility less burdensome and ensures stronger income protection for you and your family.
How Does Disability Insurance Work?
Most people don’t think they’re at risk of becoming disabled—but the reality is sobering. According to the U.S. Social Security Administration, one in five Americans (56 million people) are currently living with a physical or mental disability. Even more concerning, one in four of today’s 20-year-olds will become disabled before reaching retirement age.
Without a solid disability insurance plan, your family could be at serious financial risk if the unexpected occurs—especially if your income contributes to monthly household expenses or mortgage payments. Since many American families rely on dual incomes to cover these costs, losing even one paycheck can create significant hardship.
Relying solely on Social Security Disability isn't enough. Qualifying is extremely difficult: the SSA enforces a strict definition of “disability,” requiring that you be unable to work any job for which you're reasonably qualified based on your education, training, or experience.
By contrast, disability insurance purchased from a licensed professional uses the “own-occupation” definition—meaning you’re considered disabled if you can’t perform the duties of your specific job. This makes proving eligibility much easier and ensures your family’s income remains protected during difficult times.
Choose Us For Disability Insurance
The primary benefit of disability income insurance is that it provides paycheck protection, replacing a portion of your income if illness or injury prevents you from working. This means your family can maintain their standard of living—covering mortgage or rent and essential expenses—even when you cannot work.
While employer-provided disability coverage can offer a valuable safety net, it typically ends if you leave your job. Having your own policy ensures continued protection regardless of your employment status. Private disability insurance also saves you from the hassle and potential delays often associated with qualifying for Social Security Disability.
Individual disability policies often offer better benefits than employer plans. These can include a stronger definition of disability (such as "own occupation"), higher benefit limits, non-taxable payouts (if you pay the premiums yourself), and the ability to replace bonuses or commissions—not just base salary. This makes them far more robust and tailored to your personal income needs.
Disability Insurance FAQ
A: Disability insurance provides income protection if you’re unable to work due to illness or injury. It helps replace a portion of your paycheck so you can continue paying for essentials like housing, bills, and family expenses.
A: Most policies cover between 50–70% of your regular income. The exact amount depends on the policy you choose and your income level.
A: Short-term policies typically last 3–12 months and cover temporary conditions. Long-term disability insurance covers serious illnesses or injuries and can provide benefits for years, even up to retirement age.
A: Most policies include an “elimination period,” which is a waiting time before benefits begin—often 30, 60, or 90 days. Longer waiting periods usually mean lower premiums.
A: Yes. Life insurance protects your family if you pass away, but disability insurance protects your income while you’re still living and unable to work. Both play different but essential roles in protecting your financial future.
A: Our advisors at Crocker Financial will review your budget, career, and financial goals to recommend a plan that gives you the right balance of coverage and affordability.
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