Disability Insurance
Disability Insurance is a simple form of insurance that ensures you are financially covered if you are unable to work due to a disability caused by an accident or sickness. It provides an income while you are out of work to help you avoid debt. However, disability insurance is one type of insurance that very regularly is overlooked. Many full-time employees have some basic disability coverage through their employer. This basic coverage is usually limited in the percentage of income it replaces and is very often restrictive in coverage and duration. A disability is one of those things that people think will never happen to happen to them. However, statistics show that 30% or more of employed people experience some form of disability, which causes them to need time away from work, whether that is short term, long term or recurring. To put it simply, not taking out a disability insurance contract is a risk. People who own disability insurance have peace of mind and if they experience a disability they can be free of financial stress and concentrate on their treatment and getting healthy.
Informational purposes only.