Wheeling, IL (PressExposure) July 10, 2010 -- Many consumers fail to recognize one of their most valuable assets; the ability work. The fact is, without the ability to work and a proper source of income, a family’s overall financial security could be at risk. AccuQuote, a leader in providing term life insurance quotes to people across the United States, explains how disability insurance could prevent a family’s nest egg from draining if a primary breadwinner became disabled and unable to work.

Disability insurance, also know as income protection insurance, is a type of life insurance designed to compensate a person for a portion of their lost income due to a disabling injury or illness. Benefit payments are made either weekly or monthly for a specified period during the continuance of the insured's disability.

“Many of us take the ability to work for granted,” says Byron Udell, founder and CEO of AccuQuote. “But think about it: what would you do if you weren't able to earn any money for 90 days, a year or even longer? How would you cover the cost of your mortgage, groceries, cars and other important bills? How long could you and your family survive financially without a steady income stream? These questions are easily answered with disability insurance.”

Most consumers are unaware of how often disabilities occur. Here are the facts:

• According to LIMRA International, the odds of suffering from a disability during one’s working lifetime are four times greater than the odds of dying before the age of 65
• According to the American Council of Life Insurers, one-third of all Americans between 35 and 65 will suffer from a disability that will keep them out of work for more than 90 days
• According to National Safety Council Injury Facts, a disabling injury occurs every 1.5 seconds

According to the Commissioner’s Disability Table, 80 percent of U.S. workers will exhaust their savings in only two months without the ability to earn an income

“Disability insurance will provide financial support should any of the statistics become a reality for your family,” says Udell. “In addition to disability insurance, there are some permanent and term life insurance policies that can provide financial assistance during disabling times. But no matter what type of life insurance coverage you have, make sure your coverage will protect your nest egg in the tragic event of death or a disabling injury or illness.”

For more information about disability insurance or for a free term life insurance quote, contact a licensed life agent at AccuQuote.

About AccuQuote

AccuQuote helps consumers find the best values in term life insurance by combining instant online quotes with the personal service of unbiased life insurance professionals that can help answer questions, identify important issues, and make meaningful recommendations. The company offers consumers an extensive selection of life insurance options, including term life, whole life, and universal life, as well as selected annuities. The website has many handy insurance tools, including a life insurance needs calculator to help you figure out how much to buy, a glossary that explains industry terminology, a collection of articles that cover the basics about life insurance, and a blog which answers many questions about life insurance. For additional information or to get quotes for cheap term life insurance, please call 1-800-442-9899.

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