Disability can happen to anyone — here’s why income protection matters

New York Life | May 18, 2026

A conversation with Ed Carter, CVP, Disability Insurance Solutions, New York Life.

I bought my first disability income insurance policy at 22 years old, almost as soon as I learned such coverage existed. Most people that age don’t actively seek out disability insurance. I did, not because I work in the industry, but because I had already seen firsthand what can happen when the unexpected becomes reality.

My mother lived what many would consider a textbook “healthy lifestyle.” Her regimen included regular exercise, a primarily vegetarian diet, never smoking and rarely drinking. But at 54, she suffered a major hemorrhagic stroke caused by a congenital arteriovenous malformation, or AVM. It was a ticking time bomb no one knew was there.

That experience taught me a lesson I’ve never forgotten: Sickness and injury don’t care how healthy you are, what you do for a living or whether you “did everything right.” Disability can happen to anyone, at any age.

The good news is that my mom survived, and we are grateful to still have her with us nearly 20 years later. The harder truth is that the stroke left her permanently disabled, without the use of her left side. She spent over a month in the hospital, followed by years of doctor visits, physical therapy, and re-learning basic tasks, everything from swallowing food to navigating daily life in a whole new way. The new day-to-day reality completely shifted for my family.

Bearing the burden

What I didn’t fully understand at the time was how much physical, emotional and mental effort it takes to care for someone after a life-altering event. Those efforts are driven by the burden of unexpected costs, which add up quickly. In an instant, I learned about what was needed to adequately support my mother’s recovery and her “new normal,” from one-handed dinner plates to necessary home modifications. Then I learned about the regular ongoing costs such as transportation and rehabilitation expenses, which were now part of our everyday life.

My family was fortunate. At the time, my grandmother, already in her 80s but still in good health, was able to help with caregiving, driving my mom to appointments, and providing day-to-day support. Even without needing to hire full-time in-home care, expenses increased. And beyond the financial impact, there was the emotional toll, the shock of what happened, followed by the long process of adjustment for my mom and for all of us who loved her.

That mental and emotional strain is something we don’t talk about enough. Caregiving is demanding, and it affects not just the person receiving care, but the entire family. The 2025 Caregiving in the US report¹ by the National Alliance for Caregiving (NAC) and AARP, found that 64% of family caregivers experience high emotional stress and 45% face significant physical strain. Nearly one in four say they feel alone.

Industry data reinforces just how widespread that burden is; according to the Social Security Administration², one in four of today’s 20-year-olds will become disabled before reaching retirement age. Most are not prepared for it. Those numbers don’t surprise me. Counseling and mental health support can become just as important as physical rehabilitation, especially in the months and years after the initial event.

Don’t count on being “lucky”

Watching my family navigate all this made one thing very clear to me: being “lucky” isn’t a plan. As soon as I learned disability income insurance existed, I knew it was something I needed. I bought a policy early, and I’ve taken advantage of opportunities over the years to increase my coverage as my career and responsibilities have grown.

To me, disability income insurance isn’t about covering medical bills, although that’s what people often assume. It’s about maintaining a paycheck when your ability to work is interrupted. It’s about having income to help pay the mortgage, put food on the table, adapt your home, support caregiving needs, or simply give your family breathing room to focus on recovery rather than financial stress.

The data backs this up. That same 2025 caregiving report found that nearly half of all family caregivers experience at least one significant negative financial impact, one-third have stopped saving altogether, 24% have depleted short-term savings, and many have taken on debt or delayed retirement. And half of working caregivers experience on-the-job impacts like missed hours or reduced productivity. When income stops, the ripple effects are immediate and far-reaching.

Income protection may be the missing foundation. Financial professionals who make it a consistent part of the conversation are giving clients something the industry has historically underdelivered. It’s also important to understand what disability income insurance does and doesn’t do, and how it fits alongside other types of coverage. Accident or specified disease policies can help with certain events. Long-term care coverage can support extended care needs.

Disability income insurance plays a different role — replacing income when you can’t work due to sickness or injury. These solutions aren’t mutually exclusive; they can work together, depending on your circumstances and life stage.

During Disability Income Awareness Month, and especially alongside Mental Health Awareness Month, I hope my story encourages people to think differently about income protection. For me, disability income insurance has been one of the most meaningful financial decisions I’ve made. It’s the kind of protection that is ready when you need it most. After seeing how quickly life can change, I’m grateful I put it in place early.

1 https://www.aarp.org/content/dam/aarp/ppi/topics/ltss/family-caregiving/caregiving-in-us-2025.doi.10.26419-2fppi.00373.001.pdf

2 https://www.ssa.gov/pubs/EN-05-10029.pdf