Yes, if protecting your financial security is important. Your income is a necessity, and being without it could have serious consequences. Still not sure? Get the facts on common misconceptions:
“I’m healthy and active—I don’t need it.”
Of course, none of us want to envision getting so sick or hurt that we can’t work. But it happens. The risk is real. Unexpected illnesses like cancer, heart conditions, and stroke are common causes of disabilities. And they often come with expensive medical bills, which makes maintaining an income even more vital.
“I can’t afford disability insurance.”
Most policies offer coverage that’s flexible and customizable to your specific needs and budget, with the ability to modify as your needs change in the future. In many cases, the cost of your coverage may be as little as a daily cup of premium coffee or a date night out. When you think of it that way, fitting it into your monthly budget feels more doable.
And remember, purchasing DI insurance helps ensure you have the money to pay for your other insurance policies (home, auto, health), too.
“I already have coverage through my employer.”
This is your group long-term disability (LTD) insurance, which your employer generally offers to all employees. It’s a great start, but it’s not always enough income protection. And typically, when you leave your job, you must leave the group LTD policy behind, too.
An individual Disability Income insurance policy is 100% yours. You own the policy, and it stays with you if you change jobs or careers. The individual DI policy will also help supplement any income gaps in your group coverage.
Learn more about why you need DI insurance:
Explore Principal Disability Income insurance
See if our coverage options may be the right fit for you.