When most people think about insuring their valuables, they think about their car, home and possessions. But your most valuable asset is actually your ability to earn a living. Insuring your livelihood is more important than insuring your possessions and that’s what disability income insurance does: it provides you and your family with an income if you’re too sick or injured to work.

Just as you would insure your car, your home and other valuable possessions, you need to insure yourself in case you are no longer able to work. That's what disability income insurance does it provides a source of replacement income if you're unable to work due to an illness or accident.

If becoming disabled may seem unlikely, the odds may surprise you. Nearly 1 in 5 Americans will become disabled for 1 year or more before the age of 65.

The other thing to keep in mind is that an accident or illness that keeps you out of work for a period of time can be very costly. That's because people who become disabled not only need to continue providing for loved ones, but for themselves as well.

A disabling injury or illness could lead to medical bills, modifications to your car or home, or other unforeseen needs that can be quite expensive. For all these reasons, almost anyone who works whether they're single, married, with children or without should consider disability income insurance.

In the event you sustain a disabling injury or illness, there are a number of sources of disability benefits you might be able to tap into. For instance, the government offers disability benefits, as do many employers. You should definitely take the time to understand the benefits that would be available to you through these sources.

Just be mindful of the fact that there are limitations on the benefits available through these sources and sometimes the benefits won't be sufficient to meet your income replacement needs.