Most people think that disability insurance is for individuals who become permanently disabled (ex: lose a limb, etc.). If you are of the same mindset then you may be surprised to learn that most disability insurance claims are actually filed for short-term disability (3 months or less).
In fact, 25% of American workers will become disabled for 3 or more months before they retire! According to the Money Pulse study by Bankrate.com in 2013, it was determined that 77% of Americans had cash-on-hand savings of only 3 months or less. The biggest insurance need for the wealthy is protecting their assets yet most people do not have a policy in place that would help assist in keeping the lifestyle they are accustomed to. Would you be able to meet your financial obligations if you were too ill or injured to work for an extended length of time?
Protect yourself and your financial obligations with Disability Income Insurance.
In the case of injury or illness, disability insurance can be a financial lifeline – whether you are out of commission for a few weeks or more than a year. Beyond replacing income, Disability Insurance can help you pay for disability-related costs that aren’t covered by health insurance. These include specialized medical equipment costs to home-based medical care costs.