Disability Insurance

Written by Patricia Tunstall
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Disability insurance may be the most important protection you can have--for you, your family, your future. Ironically, most people are probably better insured for death and burial than they are for disability from illness or injury. Consider that three out of 10 workers between the ages of 25 and 65 will have an accident or illness that keeps them out of work for three months or longer! In this day and age, protection of your income is crucial to prevent financial upheaval.

No one can look into the future, but some statistics give us a good perspective on what can happen. At the turn of this century, 33 million Americans were classified as severely disabled. Let's face it--anything can happen to force you off work temporarily or permanently. True, the more hazardous your job, the more likely you are to have an accident or injury, but anyone can fall ill or suffer an injury at any time.

Don't Wait Until You Need It

Planning ahead is smart no matter what the subject--health insurance, home insurance, auto insurance. You may think you can't afford disability insurance, but if you wait until you need it, it will be even more expensive. Pre-existing conditions, partial or permanent disabilities--these will raise your premiums and possibly reduce your benefits.

On the other hand, if you obtain disability insurance now, when you are healthy and have a good income, you can get the best plan with the best benefits at the cheapest cost. If your employer offers group insurance, inquire about it. Individual coverage is better, but it is also more expensive.

Security through Rough Times

Half of Americans live from paycheck to paycheck. Many of the other half are perhaps four months away from financial catastrophe should illness or injury prevent them from working. Disability income insurance replaces a percentage of your income if you can't work for a short time or permanently.

Physical problems are bad enough, but realizing that your income is cut off causes anxiety and depression. Without insurance to help, what would you do? What would happen to your family? You might consider what life would be like if your lifestyle had to change, if you lost your car and your house. One great benefit of disability insurance is that premiums are waived after certain conditions are met.

Disability Insurance: Your Family's Shield

Income protection not only replaces a portion of your income, but it relieves apprehension about the consequences of injury or illness. You know you have taken care of a major responsibility to yourself and to your loved ones when you find affordable income protection insurance. It is comforting to know that no matter what happens, you and your family are taken care of.

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