Disability Insurance Awareness Month
Disability insurance provides income replacement in the event that an individual becomes disabled and unable to work due to an illness, injury, or other disabling conditions.
Disabilities can range in severity, from temporary disabilities that last a few weeks to long-term or permanent disabilities that significantly impact an individual’s ability to work.
Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) are government programs that provides disability benefits to eligible individuals who are unable to work due to disabilities.
Disability insurance policies may have exclusions or waiting periods before benefits become payable, emphasizing the importance of understanding policy details and terms.
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Disability Insurance Awareness Month is observed annually in May. It is a month-long campaign dedicated to increasing awareness, promoting understanding, and educating individuals about the importance of disability insurance. Here’s information on Disability Insurance Awareness Month, its background, the organizations involved, and 24 important facts about disability insurance:
Disability Insurance Awareness Month is observed in May to highlight the significance of disability insurance in protecting individuals and their families from financial hardships caused by disabilities. The observance aims to raise awareness about the importance of disability insurance and the need for adequate coverage in the event of a disability.
Disability Insurance Awareness Month was established by Life Happens, a nonprofit organization dedicated to educating consumers about insurance and financial planning. The observance began in 2007 and has since gained momentum, with various insurance companies, financial institutions, and industry professionals participating in awareness campaigns.
Life Happens is the primary organization behind Disability Insurance Awareness Month, providing resources, educational materials, and support for the campaign. Insurance companies, financial advisors, and industry associations also participate by organizing events, sharing information, and promoting the importance of disability insurance.