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Income Protection

31 Tips for Income Protection

Income Protection is for Everyone

31 Days of Income Protection


If you’re working and earning a paycheck, chances are, you need to protect your income. Without the right protection, a lot is at stake if you become too sick or hurt to work. Follow these 31 tips to get started on the path to a more secure future!


Step 1: Get Started

  • TIP 1: Video icon Disability insurance is often called income protection. It protects your income if you become too sick or hurt to work. bit.ly/1q1KG04.

  • TIP 2: Why should you protect your income? Because disabilities happen, and they can last a long time. bit.ly/1fT7XfI

  • TIP 3: Life and disability insurance often go hand in hand. One provides a death benefit. The other, a living benefit. bit.ly/1fT8wX1.

  • TIP 4: If a disability derails your savings, your plans for retirement may look very different. Protect your ability to save. bit.ly/1hphP0d.

  • TIP 5: Calculator Don’t underestimate your lifetime earnings potential (Hint: It’s probably in the millions!) Calculate it: bit.ly/ZW99G5

  • TIP 6: You can’t prevent the unexpected, but you can prepare for it. Just like you protect your home and car, protect your income! bit.ly/1hpiLBR

  • TIP 7: If you woke up in a hospital tomorrow, would you be prepared? bit.ly/1jcjJWr

Step 2: Understand What Your Paycheck Provides

  • TIP 8: Video icon It’s not just the big things your paycheck makes possible. It’s also the little things. Here’s why income protection matters: bit.ly/1k8YXuv

  • TIP 9: Calculator Tally your expenses to see what’s really going out each month. How do you cover those if you’re too sick/hurt to work? bit.ly/1k914OZ

  • TIP 10: Review your retirement and savings account balances. Could you afford to retire tomorrow? If not, you need income protection.

  • TIP 11: Which of these income options would you choose?  bit.ly/1siwCDn

  • TIP 12: If your income stopped tomorrow, what would you have to give up? http://bit.ly/1mQCLpa


Step 3: Learn about the Cause and Effect of Disabilities


  • TIP 13: Quick! What’s the leading cause of disability? Hint: It’s not accidents. bit.ly/1fIt485
  • TIP 14: What does disability look like and who does it affect? It can happen to anyone. bit.ly/1hpnC5Y
  • TIP 15: Here are 26 reasons why protecting your paycheck is so important - from A to Z. bit.ly/1k93gWA
  • TIP 16: Calculator The risk of becoming too sick or hurt to work is different for everyone. Calculate your own quotient: bit.ly/1hpo9VE

Step 4: Think about How You Would Get By

  • TIP 17: Think of 3 people who would run your errands and pay your bills for a month. If that’s too much to ask, you need income protection.
  • TIP 18: Where would the money come from to replace your income if you were too sick or hurt to work? Is it a reliable source? bit.ly/1mUg7Mu

  • TIP 19 Do you know what your health insurance covers? Would it cover your mortgage, car payment or groceries? bit.ly/1g0HrBm
  • TIP 20: Think about all the things you protect with insurance. Is your income on that list? bit.ly/1jnQrUR
  • TIP 21: If you have group disability coverage, check with your employer to see what that policy covers. Ask these questions: bit.ly/1g0Tles
  • TIP 22: Did you know? Income protection is affordable. It’s less than what you might spend on little things each day. bit.ly/1mUhxGR

Step 5: See How Protection Has Helped Others

  • TIP 23: Tim's story: Group and individual disability benefits mattered to him and his family after a serious diagnosis: brain cancer. bit.ly/PSqoef

  • TIP 24: Nancy’s story: She was prepared to take a loss and retire early from teaching. Insurance benefits were there when least expected. bit.ly/QXl2zm

  • TIP 25: Video icon Bruce’s story: At the start of his career, he bought income protection, never expecting to use it. That decision paid off. bit.ly/QXl8qM

  • TIP 26: James’ story: A sudden stroke put his family and law firm at risk, but the right protection made all the difference. bit.ly/1lLkNnB

  • TIP 27: Keith’s story: Even as a kid, he was passionate about being a veterinarian. Disability insurance helped keep his dream alive. bit.ly/1gDtf0y

Step 6: Take Action

  • TIP 28: Calculator How much income protection coverage do you need to help weather a disability? Try this calculator: bit.ly/1jUUAAu 
  • TIP 29: How does income protection fit with your overall financial strategy? Visit the planning center to evaluate your needs. bit.ly/PFS5aj
  • TIP 30: Make an appointment with your financial advisor to talk about income protection. If you don’t have one, we can help you find one. bit.ly/1hliMwx
  • TIP 31: It’s trivia and taking out bad guys in one! Test what you’ve learned about income protection. Play a round of Defend Your Income. bit.ly/XCo4ZD

Disability insurance has limitations and exclusions. For costs and complete details of the coverage, contact your Principal Life representative.

DI 8754 - 04/2013
Content Last Updated: 04/15/2014

For More Information
Core Value Income Protection

Get the facts about the risk of disability from the Council for Disability Awareness.

CDA Facts

View a dozen reasons why income protection is so important with our consumer flipchart.

Flipchart
Our Story

See why we work. Our employees believe in the importance of income protection, and it shows.

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