Life Lessons on Disability Insurance: Teach Your Children and Lead By Example

By Michael Cohen, Eugene Cohen Insurance Agency

This past August marked my 34th year working with producers who offer disability insurance. And with Eugene Cohen himself boasting over 60 years of experience, you can imagine that insurance—particularly disability insurance—has never been a foreign language in our household.

Over the decades, we’ve seen disability insurance transform from a misunderstood line item in a benefits package to a critical component of a responsible financial plan. But despite the industry’s evolution, one truth has remained constant: most people don’t learn about it until they need it. And by then, it might be too late.

That’s why a recent conversation with my 24-year-old daughter struck me so deeply. She’s bright, ambitious, and carving a career path of her own. And when she turned to me—her father—for advice about the disability insurance offered at her new job, I felt two emotions wash over me: joy and urgency. Joy that she asked. Urgency because I know how few young people ever do.

The Unexpected Conversation Over Deep Dish

It happened over pizza. Chicago-style, naturally. I was scanning the menu, debating between sausage and pepperoni, when my daughter asked: 

“Dad, I’m being offered something called disability insurance at my new job and wanted to get your opinion.”

Oh, the joy of hearing that question.

For decades, I’ve built my career educating producers and clients about this exact topic—yet hearing it come from my own daughter? That was different. We grabbed our plates, found a quiet spot in the house, and sat down to have what would become one of the most important conversations we’ve ever had.

What We Teach—and What We Don’t

As parents, we spend countless hours teaching our children how to live life well. We teach them:

• Good manners

• How to respect others

• The importance of school

• How to eat healthy

• How to swim

• How to drive

• What to do in emergencies

  
  

But somewhere along the line, we fail to teach them something else that could one day be just as important: how to protect their income.

We don’t teach them how to insure their financial future. We don’t sit down and explain the concept of disability insurance—the idea that your ability to earn an income is, for most people, their most valuable asset. And yet, we should.

The Missing Link in Financial Education

Some schools are beginning to implement financial literacy classes—small steps in the right direction. My local high school even offers a senior-year elective that covers budgeting, paying bills, and basic adulting. But even that curriculum barely scratches the surface. Disability insurance? Not even a footnote.

So where do most young adults go to learn about insurance? The internet.

They search Google. They scroll TikTok. They stumble across Instagram reels or YouTube shorts that oversimplify or misinform. And often, they don’t know what questions to ask—or what dangers to watch out for.

This is where we, as industry professionals and parents, come in.

There are over a million licensed insurance producers in this country. Many of them have children and grandchildren. Millions of those producers have helped clients plan for retirement, navigate life’s storms, and protect their loved ones. And yet, we often fail to extend that same education and wisdom to our own families.

That must change.

Why We Must Lead by Example

As a producer, ask yourself:

• Have you ever shared your proudest claim story with your children?

• Do they know what you do, or why you do it?

• Have you ever told them about the client whose family was saved by a policy you helped them put in place?

  
  

These stories matter.

When we talk about the challenges our clients face—and how insurance changed their lives—we bring the abstract into reality. We remind our kids that life is unpredictable, and preparation is not just prudent—it’s responsible.

And then we go a step further. We show them what protection looks like in our own lives. We tell them:

• “This is why I have disability insurance.”

• “This is how I’ve protected our home.”

• “This is why we’ll be okay, even if something happens to me.”

  
  

Because teaching is one thing. Living it? That’s leadership.

The Conversation That Changed Everything

Back to that pizza night.

I told my daughter why I bought disability insurance when I was about her age. I explained that, while I loved my parents and had a wonderful childhood, I didn’t want to move back home if I became sick or injured and couldn’t work.

Even in my early 20s, I had bills to pay. Rent. Utilities. Groceries. Car payments. I had responsibilities—just like she does now. And if I couldn’t earn a paycheck, those responsibilities wouldn’t disappear. They’d become heavier.

I told her that disability insurance wasn’t just about protecting money—it was about protecting independence. Dignity. Momentum.

It was about not letting a broken ankle or a bout of illness derail years of hard work.

She was with me every step of the way, engaged and curious. And just as I was about to explain the differences between short-term and long-term disability policies, we got interrupted by a round of “Happy Birthday” from the other room.

But the seed was planted.

Planting Seeds in the Next Generation

That conversation reminded me of how many young adults are on the cusp of major life decisions, yet lack the guidance to navigate them. They’re signing up for employer benefits without truly understanding them. They’re starting families, buying homes, launching businesses—and they’re doing it without a safety net.

What if every insurance professional took the time to educate just five young people in their life?

What if we included our kids and grandkids in conversations about financial planning?

What if we started using our personal stories to bridge the gap between generations and demystify the world of insurance?

It doesn’t have to be complicated. Start with the basics:

• Why income protection matters

• What happens if they can’t work due to an illness or injury

• The types of disability insurance available

• Real-life stories where it made a difference

  
  

Use your own policy as an example. Talk about the peace of mind it gives you. Show them what responsible planning looks like in real life.

Because here’s the truth: disability insurance isn’t just for middle-aged adults with mortgages and families. It’s for anyone who depends on a paycheck.

And that includes your children.

The Impact of Leading by Example

When we model good behavior, our kids notice. When we take the time to explain what we do—and why it matters—they listen.

Leading by example means we walk the talk. It means we treat our own lives with the same care and planning that we recommend to clients. It means we acknowledge that no one is immune to risk, but that risk can be mitigated.

I’ve seen firsthand how this mindset ripples outward. A client who once bought a policy for themselves now buys it for their kids. A young adult who heard a story at the dinner table goes on to protect their income before their first major career leap.

And slowly, the next generation becomes smarter, more prepared, and less vulnerable.

The Call to Action

To every financial professional reading this—your work doesn’t end when you leave the office. It continues at home.

You’ve spent your career helping others build security. Don’t forget to do the same for the people closest to you.

Talk to your kids. Share your stories. Explain why you believe in the products you sell. Show them the power of planning.

If you’re a client—ask your advisor or agent to walk you through your options. Have the conversation with your family. Start the dialogue.

Disability insurance is not just another policy—it’s a promise. A promise that if life throws a curveball, you won’t lose everything you’ve worked for. A promise that you won’t have to move backward just to survive.

And what better legacy to leave our children than the knowledge that they’re protected—and empowered—to live life on their own terms?

Final Thoughts

That night over pizza reminded me that the most powerful conversations don’t happen in boardrooms—they happen at dinner tables. They happen when a child asks a simple question. They happen when a parent chooses to share, instead of dismiss. They happen when we realize that protecting our future isn’t just our job—it’s our responsibility.

So whether you're an insurance professional, a parent, or both—make the time. Have the conversation. Lead by example.

Because one day, your child may turn to you and say,

“Thanks for teaching me something I didn’t know I needed.”

And when that day comes, it’ll be worth every slice of deep dish you didn’t get to finish.

www.cohenagency.com