Despite placing high value on earning income, most adults in their 20s and 30s do not have disability insurance, which protects their income in cases of illness or injury, according to a recent survey by LearnVest and The Guardian Life Insurance Company of America.

Specifically, only 35 percent of respondents own disability insurance policies from their employers or on their own. This is significantly lower than the 57 percent of respondents who have life insurance. Of those who do not have disability insurance, 25 percent of respondents say they lack coverage because of cost, and 21 percent of respondents say they do not have it because they do not believe job risks require buying this type of plan.

However, young adults might want to reconsider this thinking. The Social Security Administration finds that more than one in four of today's new entrants to the workforce will face a disability at some point in their careers. Furthermore, only 47 percent of respondents report having emergency funds.