What is Disability Income Insurance
Disability insurance provides partial income so you can pay your bills if you get too sick or injured to work. Disability happens to more people, more often than you may think.
In fact, more disabilities are caused by illness than injury, including common conditions like heart disease and arthritis, and most disabilities are not covered by Workman’s Compensation.
Some employers will offer short and long term disability benefits to their employees.
Short-term policies help you immediately after an incident, and long-term policies help provide financial protection for disabilities that can last for years.
You can also pay for additional coverage on top of the benefits you get at work to help provide extra financial protection.
Who is Disability Insurance for?
If you depend on the income you receive through work to pay your expenses, then you should probably consider disability insurance. It ensures that you can continue to receive partial income in the event that you end up too sick or injured to work.
How does Disability Insurance work?
Most disability insurance pays you a percentage of your income if you get sick with a serious illness or experience an injury that prevents you from doing your job. Some cover you in the short term immediately after an incident, while others pay you if your injury lasts for an extended period.
You can also choose to purchase supplemental disability insurance, which provides extra income on top of your other disability policies.
Why should I consider Disability Insurance?
Accidents happen, and we can’t always anticipate if or when we’ll be diagnosed with an illness, condition, or injury, which is why it’s important to have a disability policy that will help you pay your bills in the event that you can’t collect your normal paycheck from work.