It is common for people to insure their cars, homes, and businesses because they see those things as valuable assets which must be protected. However, as a psychiatrist, your greatest asset isn’t any of these; it is your ability to make income. A split-second accident or a chronic illness can destabilize your career plans and leave you vulnerable financially. Disability statistics show that more than 50% of disabled people in the U.S. are in their working years (18 – 64). You have invested so much effort and money in your career which must be protected.
Disability insurance pays you a guaranteed monthly income as coverage which serves as a financial safety net for you and your loved ones if you cannot work and earn income because of a disability.