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Disability Insurance

health issues or injuries

Disability Insurance

The fact is, unexpected health issues or injuries happen that can leave you unable to work for a short or long period of time. Making ends meet is the last thing you want to think about which is why we encourage our clients to purchase a Disability Insurance Policy. Disability insurance is designed to replace a portion of your income should you become disabled and are unable to return to work. Depending on the type of plan, you can select either short term coverage or long-term coverage and select the percentage of coverage. As an example, a short-term disability insurance plan may provide up to 80% of your gross monthly income as a benefit should you become disabled. A long term plans typically pay for up to 60%, however additional coverage can normally be purchased.

What would it mean to you and your family if you were suddenly unable to work? While we tend to dismiss this thought as it would never happen to me, the fact is, according to the Social Security Administration, one in four of today’s 20-year-olds can expect to be out of work for at least a year due to a disabling condition before they reach normal retirement age. Maybe more shocking, 5.6% of working Americans will experience a short-term disability lasting six months or less due to illness, injury, or pregnancy on an average year. In 2016, the Integrated Benefits Institute conducted a study and determined the top 5 reasons for short term disabilities are pregnancies, musculoskeletal disorders, digestive disorders, mental health issues, and injuries such as fractures, sprains, and strains. Similarly, the top 5 long-term disability claims are musculoskeletal disorders, cancer, pregnancy, mental health, and injuries such as fractures, sprains, and strains.
While you may think the chances are low, you are gambling with more than just your quality of life, it can affect everyone around you. A common misconception when it comes to disability insurance is its lack of affordability. This couldn’t be anything further from the truth. Rates are often determined by age, level of coverage, term, occupation, and more.

Do yourself a favor, take a few minutes and contact our office for a quote. We have a few short questions, and we can typically provide you some options within 30 minutes. Give our licensed insurance agents a call today or fill out the form below and someone will be in contact with you shortly!