When was the last time you visited a home that didn't have atelevision in nearly every room or met someone who didn't have acell phone? Americans seem to have plenty of disposable income forgiant flat-screen TVs and the latest smart phones, but most of themlack one of life's true necessities: protection for their abilityto earn an income.

Workers in this country remain woefully uninsured—andunderinsured—when it comes to disability insurance. According toThe Hartford, only 49 percent of U.S. employees have short-termdisability coverage, and 44 percent own long-term disabilitycoverage. In fact, 100 million Americans aren't protected byprivate disability insurance at all, based on Social SecurityAdministration numbers.

Underinsurance—not having enough coverage to adequately protectone's assets—also represents a significant hidden risk foremployees. A Colonial Life survey indicated more than a third offull-time employed adults enrolled in an insurance program providedby their employers feel their plans might not adequately covertheir inability to earn an income for an extended time because ofillness or injury.