One can never anticipate when tragedy will strike. Whether it is a car or household accident or a diagnosis of heart disease or a herniated disc, unanticipated misfortunes are the reason it makes sense to have disability insurance. This type of insurance replaces a portion of your income if injury or illness renders you unable to work, reports the Texas Society of Certified Public Accountants.

Statistically, most people of working age have a greater chance of being disabled than dying. Yet few take the necessary steps to protect their income despite the fact that the ability to earn a living is often an individual’s most valuable asset.