Disability insurance, also known as income replacement insurance, has existed for a long, long time. Their first use is reported among the guilds of ancient history. Within these guilds, if one of the members became disabled, a series of procedures were executed in order to protect the affected person. Hundreds of years later, after public and private health insurances were established, it was determined that the disabled also required some kind of protection, specially if we consider the millions of Americans that have some kind of physical or mental disability. Only in the US, 20% of the population suffers from some kind of disability.
But, can it happen to you? Should you dismiss it? What are the probabilities that you may become a disabled person? Actually, this problem is more acute than it is commonly though of. According to statistics, there is a 30% chance that a person who works in America will become disabled before reaching his age of retirement. Imagine that you are the one who sustains the family and your work entails some kind of risk. Let's say that you drive a truck. Who will support you and your family in case you had a terrible accident and were incapacitated for an entire year? Fortunately, disability insurance can provide you with 45 % to 60 % of your original income, tax-free. That amount of money should be more than enough for maintaining your family until better times arrive.
