When it comes to insurance, some people look the other way and think to themselves “What’s the worse that could happen? or, “That wouldn’t happen to me.” The truth is, life is unpredictable. Accidents happen and even though you can prevent most of them from happening, the best thing to do is to be prepared. That’s where insurance comes in. Insurance is a form of risk management that protects you and your interests in times of uncertain loss. Some people live their whole lives without using insurance (except life insurance if they have it) while others use insurance many times throughout their lives. Either way, it is best to have insurance so you don’t end up paying for the losses out of your pocket.
In this topic, we are going to talk about Disability Insurance. This type of insurance covers the beneficiary’s earned income against the risk that a disability will make work uncomfortable, painful or impossible. In other words, if you get injured and are unable to go to work, your insurance policy will pay you for the loss that incurred because of that.
There are many types of disability insurance but the most common one is ‘Workers Compensation’. It is offered through the employer and pays for employees who are unable to work because of a job related injury. If your employer doesn’t provide workers’ comp, then you should consider buying the Individual Disability Insurance since you don’t know when you’ll be injured and as mentioned before, it’s always better to be prepared than sorry.
If you’re considering buying disability insurance (DI), you should also consider health insurance. Health insurance pays for your hospital bills while the DI pays for your time off work. Here’s an example of how crucial disability insurance can be. A friend of mine was recently diagnosed with Lymphoma. It’s a type of cancer and luckily it was caught early in the stage. He has health insurance which paid for his hospital bills but he failed to get the disability insurance. He had to request absence of leave from work because of chemo therapy and the loss of income was not covered. He now relies solely on help from his family and friends and that could be a difficult process to go through. To top it all off, it was unexpected too. Who’d have thought a 23 year old to have cancer? He certainly didn’t think it would happen to him but everything in life in unpredictable which is why we encourage you to have disability insurance. It could help you out in your greatest time of need.
If you would like to get a quote, don’t hesitate to call us at 860 684 2721 or visit our website for more information.