You’ll Never Be Disabled….Or Will You?
Posted on Mon, Oct 03, 2011
Many people feel they don’t need disability insurance because they believe won’t get into an accident, whether it’s an auto accident or otherwise. Of course, no one wants to consider the possibility that they could have a career-ending accident or one that puts them out of commission for a couple years. Did you know that according to the Council of Disability Awareness (CDA), accident-related claims account for less than 10% of disability claims? Surprising, huh?
Some of the most common causes of long-term disability are illnesses like cancer, heart attack or diabetes. Back pain, injuries, and arthritis are also significant causes. Most are not work-related, and therefore not covered by workers' compensation.
Unfortunately, illnesses and injuries happen and we can’t predict who and when one will be affected. Are you prepared if it happens to you? If it does, do you have enough emergency savings to last 31.2 months? That’s the duration of the average long-term disability claim.
The bottom line is, if you and your family rely on your income, you should look into protecting that income by purchasing a disability insurance policy. If you would like to see how much it would cost to protect your income, request a disability insurance quote.