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Who Needs Disability Insurance? Maybe You? Pop Quiz Reveals Answer.

Posted by The Income Protection Team on June 20, 2016

disability-insurance

If you pay attention to the news, you know there's a lot of buzz about disability insurance. Still, many people are not really familiar with how it works, and they're not sure if DI (also known as paycheck protection or income protection) is something they really need. If you've been wondering if you need DI, wonder no more. The following quiz will answer the question once and for all.

The 10 Telling Questions

  1. Do you earn $50K or more? 
    1. Yes!
    2. Not yet, but on my way there.
    3. Can’t remember 
  1. Have you invested time and money into developing your earning power?
    1. Oh course. I didn’t spend all that time in school for nothing!
    2. Yes, but my career hasn’t taken off quite yet.
    3. Does playing video games count?
  1. Are you between the ages of 25 and 59?
    1. Yes, I’m in my peak earning and career-building years.
    2. I’m on the high side of that equation, about to retire.
    3. You kidding? I just getting started.
  1. Do you have student debt or other loans?
    1. Unfortunately, yes.
    2. Nope, I’m debt free.
    3. My dad pays for everything.
  1. If you were unable to work for more than three months, could you comfortably pay your bills?
    1. It would be very tough. I’d have to make a lot of sacrifices.
    2. Absolutely – did I tell you about my trust fund?
    3. My dad pays for everything.
  1. Do you financially support others such as kids, a partner or aging parents?
    1. Yes, my family relies on my income.
    2. No, I only worry about myself.
    3. My dad pays for everything.
  1. Do you have a mortgage?
    1. Yes, it’s not cheap!
    2. No, but I wish I owned a home since rent is getting very expensive.
    3. I live with my parents.
  1. Does cancer or other disease run in your family?
    1. Yeah – there are a few concerning conditions in my gene pool.
    2. No – my parents and siblings are 100% healthy.
    3. Not sure.
  1. Do you like traveling, playing sports or going on adventures?
    1. Work hard, play hard – absolutely.
    2. Does playing video games count?
    3. I wear a helmet and knee pads everywhere I go.
  1. If you were unable to earn a paycheck, would it negatively impact your retirement plans?
    1. Duh, without a paycheck, I obviously couldn’t save for retirement.
    2. Not really, my retirement is already fully funded.
    3. My dad will pay for my retirement. 

Drum Roll … Now it’s time to answer the question.

Do YOU need disability insurance? Let’s see how you scored.

  • If you did NOT chose answer “A” for any of these questions, disability insurance is probably not an essential financial tool for you.
  • If you chose answer “A” for two or three of these questions, you definitely need to consider disability insurance.
  • If you chose answer “A” for four to six of these questions, it’s a no-brainer. You should definitely have disability insurance.
  • If you chose answer “A” for seven or more of these questions, click here to get an instant disability insurance quote You seriously should not go another day without it!

Now that you know, there are only two things left to do. Get educated and get protected. For the education part, visit the How it Works, Why DI and Learning Center sections of our website. Getting protected is the easy part. With our instant online quote engine, you could have a policy in 20 minutes or less!

Topics: disability insurance pop quiz