Turning 60 felt like no big deal. I was in great shape and looking forward to a long, full future. Then everything changed overnight. After I saw my doctor for back pain and fatigue, blood tests revealed the awful truth: incurable cancer. When the call came, my wife and I sat in stunned silence. Me? Cancer? I’d always been so healthy.
Those first nights were brutal. I lay awake for hours, my mind racing. I was in my prime earning years—what if I died soon? Would my wife be financially secure? I totaled up my life insurance and felt a small wave of comfort.
Then another question hit me: What if I survived but couldn’t work? Retirement funds aren’t meant for medical leave. Thankfully, I had spent my career in the Disability Insurance (DI) industry and had built solid protection for myself. When I calculated how much income those policies would replace, a sense of relief and gratitude finally set in.
I’d worn many hats in DI—sales, product development, and distribution. I thought I knew it all. But when cancer turned me into a claimant, I learned lessons I never expected. I’m sharing them so you’re ready if life takes a sudden turn.
Lesson #1: The first benefit is peace of mind
When I added up my DI coverage, something amazing happened: I fell asleep for the first time in days. That’s when I realized DI pays a benefit long before any check arrives—it pays the benefit of peace of mind.
Most policies include a waiting period before payments begin, usually three to six months. Mine had six. I might never have collected, but that didn’t matter. Knowing those policies stood ready changed everything. A cancer diagnosis shakes your world; financial security helps you rest again. Sleep itself becomes part of the benefit.
Lesson #2: DI helps you stay the hero
My career defined me. I took pride in being my family’s financial hero. Cancer ended that career earlier than I’d planned and threatened my sense of purpose. But when the monthly DI checks arrived, I realized I could still protect my family. Because I had planned ahead, we maintained our lifestyle—and I kept my dignity.
Lesson #3: Expenses don’t stop when work does
I expected our spending to drop once I stopped working—no commute, no dry cleaning. But medical life proved expensive. Health insurance covered most drug costs, but countless other expenses piled up, including alternative therapies and uncovered treatments.
That’s why employer-provided Group LTD alone isn’t enough. It’s a great start, but the benefit cap and taxable income can leave serious gaps. Owning individual DI policies filled those holes for me. Because I paid the premiums myself, the benefits arrived tax-free—month after month, like a steady lifeline.
If your financial advisor hasn’t mentioned Disability Insurance, raise the topic yourself. Nothing matters more to your financial future than your income. Protect it while you still can. With luck, you’ll never need those benefits—but if you do, you’ll be ready.
