Income disruptions usually come from a recognizable set of life events. Knowing what they are helps you honestly gauge your own risk — and prepare for it.
Income loss rarely comes out of nowhere. It usually traces back to a handful of recognizable life events — and that is useful to know, because what you can name, you can plan for.
This guide walks through the common causes so you can see which ones realistically apply to you.
Most income disruptions trace to one of these:
Any one of these can stop or sharply reduce income, often suddenly.
A list of risks is only useful if it drives action. For each event that is realistic for you, ask two questions: how likely is it, and how damaging would it be?
That honest assessment shapes how large an emergency fund you need and whether financial protection makes sense for you. One important note: financial protection pays after a qualifying event — check the plan terms for exactly which events qualify. RMO MyShield is designed to provide a monthly benefit when a covered disruption strikes.
Most income disruptions come from job loss or layoff, serious illness, injury, disability, family caregiving needs, or — for the self-employed — a business downturn.
Yes. An illness or injury that keeps you from working can interrupt income just as a job loss does, and it can arrive with no warning at all.
Self-employed people often have less of a safety net than employees and feel business downturns directly, which can make planning for an income gap especially important.
Financial protection pays a benefit after a qualifying event, but the specific events that qualify are defined by the plan. Always review the plan terms to see exactly what is covered.
Turn an honest risk assessment into a plan:
