No one is going to stop you now. You may or may not have figured out how you are going to change the world, but you will. Why? Because you are young, bright, healthy, and maybe even a little charismatic.

But financially, you could be better. Perhaps you are part of the 31 percent of those between the ages of 18 and 34 who have zero in savings.

Maybe you are not in that group, but you could never afford to skip a paycheck. Either way, we have a paycheck protection plan for you.

Young and Healthy

First, let’s talk about that young and healthy thing. Despite this fact, did you know that one-in-four 20-year olds will experience a long-term disability before they retire?

What’s that you say?

You have a desk job. Hardly a dangerous environment. And you are athletic and fit.

OK, fair enough. But muscle, back, and joint disorders count for more than one-in-four long-term disabilities. These occurrences top the list of reasons people are out of work for a few weeks to a few months.

And it doesn’t matter if you were mountain biking, helping a neighbor move, or simply stepping away from your desk.

This is Where Paycheck Protection Comes In

Ok, you are not a zero-in-savings person. Then the question becomes, how large is your emergency fund? In other words, how long can you go without a paycheck?

Not to be the nagging harbinger of bad news, but this will put paycheck protection into context: The average individual disability claim lasts 31.6 months. And 46 percent of adults could not cover a $400 emergency, or would have to sell something to get this amount.

Disability Insurance is Paycheck Protection

Disability insurance replaces a portion of your income if you should ever become ill or injured and unable to work. It would be silly to have great health insurance and car insurance, but not have income insurance.

 

Unless you don’t need to work another day for money, download your complimentary infographic here to discover how to protect your income.