Don’t get dinged by disability
[Photo of a woman on her hands and knees working on a blueprint, surrounded by tools]
DON’T GET DINGED BY DISABILITY
If an illness or accident prevented you from working for an extended period, your financial well-being could take a serious hit.
THE GIG ECONOMY IS ON THE RISE.
[Photo of a man driving a black hatchback sedan] 36% of the U.S. workforce is currently self-employed — that’s 59 million freelancers.1
[Photo of a yellow three-story house with a tree next to it and a woman walking a dog] 90 million Americans are expected to be freelancing by 2028.2
WHAT’S YOUR SITUATION?
[Graphic of an employee badge on a lanyard] Long-term disability insurance varies based on who you work for and what you do.
34% of private sector employees have access through an employer.3
[Graphic of hands holding a pair of scissors and a credit card, cutting into it] But employer sponsored disability insurance typically covers only
40%-60% of your salary excluding bonuses, commissions, and other incentives.4
About 51 million working adults in the United States are without disability insurance other than the basic coverage available through Social Security.5
THERE ARE REAL RISKS AROUND DISABILITY.
[Graphic of band-aids, gauze, tape, and a box of bandages] Up to 61 million Americans are classified as disabled.6
[Graphic of the tip of a thermometer] About 90% of disabilities are caused by illness.7
[Graphic of bones and a heart in a panel] Cancer, Heart Attach, and Diabetes are the most common causes7
THE ECONOMIC TOLL? SERIOUS.
[Graphic of a paycheck]
$1,279 is the average monthly disability benefit paid by Social Security in 2021.9
$3,189 is the average monthly expenses for a single adult.10
[Graphic of women’s hand holding cell phone and a credit card swipe machine} Only 40% of Americans have enough savings to cover at least three months of their living expenses11
[Graphic of bill past due] Only 28% say they could cover living expenses at least six months. 12
BRIDGING THE DISABILITY GAP.
Individual disability insurance can help fill that gap by replacing a percentage of your lost income.
For freelancers or employees without enough coverage through work, individual disability insurance, available through a financial professional, can help.
Individual disability income products underwritten and issued by Berkshire Life Insurance Company of America (BLICOA), Pittsfield, MA or provided by Guardian. BLICOA is a wholly owned stock subsidiary of and administrator for the Guardian Life Insurance Company of America (Guardian), New York, NY. Product provisions and availability may vary by state. Guardian® is a registered trademark of The Guardian Life Insurance Company of America. © Copyright 2021 The Guardian Life Insurance Company of America.
2021-130427 Exp. 12/23