“The odds of experiencing a disability are low” – Most people believe they have better odds at winning the lottery than they believe they will suffer from a disability. However, the odds of a 20 year old becoming disabled at some point in their career are 1 in 4. Winning the lottery, 1 in 259 million.

“Social Security will take care of me” – Potentially, but probably not very well. According to the Social Security Administration, the average benefits for a disabled worker in 2015 were $1,165 a month. However, there’s no guarantee you will qualify and there could be a long waiting period before you are approved.

“The cost is too high” – That’s up to you to decide. Though premiums depend on the policy benefits, typically the cost for disability insurance is between 1-3% of your annual income. In fact, the cost of coverage is about the same you’d spend on: a daily cup of premium store-bought coffee, monthly cable bill, or a date night each month.

“I can wait to buy insurance when I need it” – Don’t we wish this were true. However, the principles of insurance are to help us cover our home, auto, life, and income, in the case of if or when catastrophic events were to occur. For this reason, someone who is already disabled or with a significant health history may find it impossible to obtain insurance. Don’t wait until it’s too late.