Are You Doing Enough to Protect Your Family and Assets?

Starr Wright USA
The Federal Starr
Published in
3 min readMar 26, 2019


Photo by Ranta Images on Adobe Stock.

Did you know?

  • More than one in four of today’s 20-year-olds can expect to be out of work for at least a year because of a disabling condition before they reach the normal retirement age.
  • At least 51 million working adults in the United States are without disability insurance other than the basic coverage available through Social Security.
  • Only 48 percent of American adults indicate they have enough savings to cover three months of living expenses in the event they’re not earning any income.[i]

Despite the possibility of becoming disabled and the potential financial hardship, many employees don’t obtain disability insurance because they “don’t need the coverage.”

According to the insurance research firm LIMRA, 64 percent of consumers believe that most people need disability insurance, but only 20 percent actually own it themselves.

Most people don’t think of buying disability insurance the same way they view auto insurance, homeowners insurance, or health insurance — as a necessity. Some workers think Social Security disability insurance is enough protection, but for many people, it is not.

Why is disability insurance important for federal employees?

Another reason to consider disability insurance as a federal employee is due to factors influencing Social Security Disability Insurance (SSDI) and the Federal Employees Retirement System (FERS). While both offer assistance to your family during your time away from work, they are also subject to taxation.

As well, SSDI and FERS often only provide short-term disability benefits, leaving gaps in your payments.

Many federal employees are in high-risk or high-stress careers. Drug Enforcement Agency (DEA), Federal Bureau of Investigation (FBI), U.S. Marshals, and many other federal workers put their lives and their safety on the line every day. Even if you work safely at your desk every day, accidents and illness happen.

“As a company that specializes in insuring federal employees, we have special insight into what their needs are. That’s why we created a disability program specifically designed to meet their needs for income protection,” says Starr Wright USA Vice President, Darrell Weber.

Your age can influence your need for disability insurance.

Millennials (ages 23–40) are at the beginning stages of planning for their financial future — and have lower income than they will in the future. Disability coverage helps them maintain their hard-earned financial independence.

Gen Xers (ages 41–53) are farther along in their careers and in their peak earning years. While they have more income, they may also have more financial pressures to support their family and maintain their lifestyle. A loss of income could result in losing a home, reducing retirement savings, or worse.

As Baby Boomers (ages 54–72) near retirement, a stable income is an important priority. Older adults are also more likely to have a disability. Disability coverage can help prevent Boomers from dipping into their retirement savings and protect their long-term financial future.

Regardless of your age, it’s important to consider insurance protection in the event of a disability. Disability insurance should be considered as part of your financial planning.

Find out what your premium for disability coverage would be, and determine how much coverage you may need with the Disability Needs Calculator.

Article sponsored by Starr Wright USA.

Starr Wright USA is a marketing name for Starr Wright Insurance Agency, Inc. and its affiliate(s). Starr Wright USA is an insurance agency specializing in insurance solutions for federal employees and federal contractors. For more information, visit Starr Wright USA is a division of Starr Insurance Companies, which is a marketing name for the operating insurance and travel assistance companies and subsidiaries of Starr International Company, Inc. and for the investment business of C.V. Starr & Co., Inc.

[i] Council for Disability Awareness and Social Security Administration

Council for Disability Awareness