Why Disability Insurance Matters for Young Professionals
You’ve worked hard to get where you are, and you thrive by embracing the changes life brings. Yet having a job is only the first step toward achieving stability, because not all of life’s events can be predicted. As you start to build for your future, have you thought about protecting the income you’ve worked so hard for?
“I’m young and healthy. Why do I need disability insurance?”
It’s important to get protected while you’re still young. Accidents and illness can happen anytime, anywhere. And disability insurance cost is based on your health, age, and medical history. The prime of your life right now may be the best time to secure coverage. You can obtain coverage for the future and know your financial security is better protected.
“What are the chances I have an accident?”
Statistics show that one in four of today’s 20-year-old workers will experience disability during their career.1 In fact, the majority of disabilities are caused by illness rather than accidents. With the average long-term disability claim lasting a little under three years,2 disability insurance through APTA can help protect your finances should you suffer an accident or sickness and become unable to work.
“Which disability insurance best fits my situation?”
Choosing the right coverage is important, perhaps just as important as which insurance company you pick. Group disability insurance provided through APTA from New York Life Insurance Company not only comes from one of the most financially sound life insurance companies around but is designed for people like you: your age, in your industry, with your lifestyle. This means there are features built in which can be just right for you, as well as costs based on people just like you, which may save you money.
A group policy that’s as dynamic as you are
- Keep your coverage when you job-switch. Group coverage sponsored through APTA is portable, meaning you can take it with you from one job to the next as your career progresses. By sustaining coverage over time, you can both maintain income in the event you experience a disability and help protect your future insurability.
- Change your coverage according to your situation. You can add your spouse so you’re both protected from life’s events. You can also make changes as your life situation evolves.
- Group pricing is key. Since group medical underwriting spreads risk over pools of people, you’re less likely to experience price fluctuations than you would with individual coverage. What’s more, group policies are exclusively priced in accordance with your industry.
- Get the benefits you need. APTA disability insurance coverage was designed exclusively with professionals like you in mind. That’s because coverage may contain customized features suited to your type of work that you may not be able to find in other policies.
What if my employer already provides disability insurance?
Insurance isn’t one-size-fits-all. Your employer coverage might not adequately meet your financial obligations, like mortgage, living expenses, children’s college education, retirement savings and assets, and aging parent care. It may do any of the following:
- Have a maximum coverage period that leaves you unprotected if your disability lasts longer
- Make you subject to a tax that can reduce your benefit by 20% – 30%3
- Stop coverage when your employment period ends
It can be smart to look at what you have and fill in the gaps.
Good things come in groups
Employers today are reducing benefits that professionals used to take for granted. By obtaining flexible group coverage, you’ll be free to focus more on pursuing your goals and less on worrying about uncertainty. Take advantage of the benefits of APTA group insurance from New York Life.
As an APTA member, you’re eligible to apply for HPSO‑sponsored Group Disability Insurance underwritten by New York Life Insurance Company. Benefits of up to $10,000 a month4 are available, paid on top of any employer-provided disability coverage you might already have. Plus, APTA Members can now save 50% in the form of a premium credit!
NEW – Save 50% with a premium credit for members from New York Life Insurance Company.5
(No need to provide an email address or phone number to see your cost.)
Just answer 2 short questions to see your personal cost quote in seconds. If you like what you see, apply online at your convenience.
Underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010 on Group Policy Form GMR.
1 Source: Source: Social Security Administration, https://www.ssa.gov/disabilityfacts/facts.html (viewed 10/4/24)
2 Source: for Disability Awareness, https://disabilitycanhappen.org/overview/ (viewed 10/4/24)
3 Consult with your personal tax advisor for more information.
4 Benefits under this policy combined with benefits from all other sources may not exceed 66 2/3% of your basic monthly pre tax income.
5 Premium credits are not guaranteed. The current credit of 50% is in effect through 6/30/26 and will be reflected on your premium statements.
6 Including information on features, costs, eligibility, renewability, limitations and exclusions.
7165620.1
Why Disability Insurance Matters for Young Professionals
You’ve worked hard to get where you are, and you thrive by embracing the changes life brings. Yet having a job is only the first step toward achieving stability, because not all of life’s events can be predicted. As you start to build for your future, have you thought about protecting the income you’ve worked so hard for?
“I’m young and healthy. Why do I need disability insurance?”
It’s important to get protected while you’re still young. Accidents and illness can happen anytime, anywhere. And disability insurance cost is based on your health, age, and medical history. The prime of your life right now may be the best time to secure coverage. You can obtain coverage for the future and know your financial security is better protected.
“What are the chances I have an accident?”
Statistics show that one in four of today’s 20-year-old workers will experience disability during their career.1 In fact, the majority of disabilities are caused by illness rather than accidents. With the average long-term disability claim lasting a little under three years,2 disability insurance through APTA can help protect your finances should you suffer an accident or sickness and become unable to work.
“Which disability insurance best fits my situation?”
Choosing the right coverage is important, perhaps just as important as which insurance company you pick. Group disability insurance provided through APTA from New York Life Insurance Company not only comes from one of the most financially sound life insurance companies around but is designed for people like you: your age, in your industry, with your lifestyle. This means there are features built in which can be just right for you, as well as costs based on people just like you, which may save you money.
A group policy that’s as dynamic as you are
- Keep your coverage when you job-switch. Group coverage sponsored through APTA is portable, meaning you can take it with you from one job to the next as your career progresses. By sustaining coverage over time, you can both maintain income in the event you experience a disability and help protect your future insurability.
- Change your coverage according to your situation. You can add your spouse so you’re both protected from life’s events. You can also make changes as your life situation evolves.
- Group pricing is key. Since group medical underwriting spreads risk over pools of people, you’re less likely to experience price fluctuations than you would with individual coverage. What’s more, group policies are exclusively priced in accordance with your industry.
- Get the benefits you need. APTA disability insurance coverage was designed exclusively with professionals like you in mind. That’s because coverage may contain customized features suited to your type of work that you may not be able to find in other policies.
What if my employer already provides disability insurance?
Insurance isn’t one-size-fits-all. Your employer coverage might not adequately meet your financial obligations, like mortgage, living expenses, children’s college education, retirement savings and assets, and aging parent care. It may do any of the following:
- Have a maximum coverage period that leaves you unprotected if your disability lasts longer
- Make you subject to a tax that can reduce your benefit by 20% – 30%3
- Stop coverage when your employment period ends
It can be smart to look at what you have and fill in the gaps.
Good things come in groups
Employers today are reducing benefits that professionals used to take for granted. By obtaining flexible group coverage, you’ll be free to focus more on pursuing your goals and less on worrying about uncertainty. Take advantage of the benefits of APTA group insurance from New York Life.
As an APTA member, you’re eligible to apply for HPSO‑sponsored Group Disability Insurance underwritten by New York Life Insurance Company. Benefits of up to $10,000 a month4 are available, paid on top of any employer-provided disability coverage you might already have. Plus, APTA Members can now save 50% in the form of a premium credit!
NEW – Save 50% with a premium credit for members from New York Life Insurance Company.5
(No need to provide an email address or phone number to see your cost.)
Just answer 2 short questions to see your personal cost quote in seconds. If you like what you see, apply online at your convenience.
Underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010 on Group Policy Form GMR.
1 Source: Source: Social Security Administration, https://www.ssa.gov/disabilityfacts/facts.html (viewed 10/4/24)
2 Source: for Disability Awareness, https://disabilitycanhappen.org/overview/ (viewed 10/4/24)
3 Consult with your personal tax advisor for more information.
4 Benefits under this policy combined with benefits from all other sources may not exceed 66 2/3% of your basic monthly pre tax income.
5 Premium credits are not guaranteed. The current credit of 50% is in effect through 6/30/26 and will be reflected on your premium statements.
6 Including information on features, costs, eligibility, renewability, limitations and exclusions.
7165620.1
