[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

AND

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

SOURCES:

1. https://financesonline.com/number-of-freelancers-in-the-us/
2. hhttps://www.prnewswire.com/il/news-releases/more-than-90-of-hiring-managers-value-working-with-freelancers-but-struggle-to-source-and-pay-talent-301318374.html
3. https://www.bls.gov/opub/ted/2018/employee-access-to-disability-insurance-plans.htm
4. https://www.insurance.com/health-insurance/disability-insurance.aspx
5. https://disabilitycanhappen.org/disability-statistic/
6. https://www.cdc.gov/ncbddd/disabilityandhealth/infographic-disability-impacts-all.html
7. https://www.nimh.nih.gov/health/statistics/disability/us-leading-categories-of-diseases-disorders.shtml
8. https://disabilitycanhappen.org/common-causes/
9. https://disabilitycanhappen.org/disability-statistic/
10. https://www.nerdwallet.com/article/finance/monthly-expenses-single-personfamily
11. https://disabilitycanhappen.org/disability-statistic/
12. http://www.disabilitycanhappen.org/chances_disability/disability_stats.asp