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Posted: 9 Apr '12

Do People Actually Collect Disability Insurance?

Over the last few months I’ve had a few people ask me that very question, do people actually collect disability insurance or is it just a waste of money? 


I could be here for the next few hours telling you story after story of people who have collected disability insurance benefits.  But the interesting think about those who collected where also the ones who some time during the application time told me, “you know David I’m so healthy I will likely never collect this you know.”

First before I continue with who collects disability benefits let me ask the question, “why wouldn’t you have disability insurance and why wouldn’t you try to get the best one you could get?”


You insure your car, maybe it’s worth 40,000 dollars?
You have fire insurance on your house, has a house in your neighborhood burnt down in the last 50 years?
You even insure the contents in your house, yes, even your television

To figure out if you need disability insurance or try this experiment for just 60 days


For the next 60 days take any money you earn and put it into a separate account, savings or whatever, the point is not to use any income for 60 days and pay your bills with other money.  What other money would you use?  And how easy is it to get at?  Go ahead and try it’s only 60 days, don’t use any income for 60 days.  At the end of 60 days image that this continued for 2 years, what would your savings look like?


That’s why you need disability insurance today!  Why go through the agony when a disability plan will pay you an income if you have to stop working.  If someone told me they just cancelled their insurance on their Porsche that would make more sense than not having disability insurance.  If you have your income you can always buy a new Porsche.   But lose your income, what will you buy than?

Next week I’ll continue to answer the question “who actually collects disability insurance,” got a bit side tracked today.


About the Author - David Motkoski

David Motkoski—At the Helm of Vistaplan Financial Group

The team at Vistaplan is led by David Motkoski, a well-respected insurance adviser to hundreds of business and individual clients. David has 30+ years of experience in this industry helping clients understand their life and disability insurance, office overhead, critical illness, long term care, and accident insurance. David’s focus has been medical doctors, dentists and business owners who are concerned with having the right coverage to provide for their family or business and protecting their income

David is an independent broker offering policies with Manulife, ivari and RBC to name a few. Vistaplan Financial Group has clients dating back to 1983 and they stay loyal with David because of the strong relationships he builds.