Group Disability Insurance

Your income is one of your most valuable assets, so why take chances with protecting it? Disability insurance is a fantastic way to cover your important living expenses in the event of a sickness, an accident, or an injury. While many people think that they are covered with worker’s compensation, that only helps if you are injured at work because of a work related activity.

What about if you get hurt or injured outside of work? What if you get sick?

These are things that happen to almost everyone at some point or another, and having a solid disability insurance plan in place can make sure that your income and living expenses are covered even when you can no longer work due to issues that hit you outside of the work place.

What Does Disability Insurance Do?

Basically disability insurance picks up where worker’s compensation drops off. Truth be told, it is easy to make the case that disability insurance is much more important. Basically if you can’t work due to an accident, an illness, or injury, disability insurance actually covers living expenses by replacing at least a portion of your income while you can’t go to work.

Since payments from disability insurance come in actual monetary payments, the policy holder can use that income however he or she sees fit whether it is paying bills, buying food, or even stashing some away if their budget is in that good a shape. The job of the insurance is to provide a set amount of income, how it is spent is fully up to the individuals.

Why Disability Insurance?

Disability insurance is especially important because it covers income despite the main cause happening outside of work, and because Social Security Disability benefits actually are not available if you are going to be out of work for less than 12 months.

Disability insurance helps at least lessen the impact of not being able to work and this is doubly critical if you have dependents who are relying on you.

• Payments can be used for
• School expenses or college tuition
• Mortgage payments
• Utility bills
• Car payments
• Food and basic living expenses
• Emergency expenses
• Anything you need

Illness Can Strike Anyone Suddenly

Many people are surprised to learn that accidents and injuries are not the cause of long term absences from work. Illness is. Severe sickness can come unexpectedly in the form of disease, an auto-immune issue, or a sudden burst of illness. Diseases like cancer, Lyme disease, or even severe outbursts of clinical depression leading to anxiety disorders can sideswipe an otherwise fully healthy young person out of nowhere.

Nearly 90% of all long term disabilities are due to disease and illness as opposed to accident and injury. That makes this type of insurance absolutely critical to protect your financial interests when you can’t work.

The Risk Is Higher Than You Think

Over 1 in 4 workers will become disabled before reaching retirement age. That’s a full 25%, and that means there are a lot of people who are going to become disabled who would never dream of it being them.

Everyone hears stories about young healthy individuals dying tragically young, but the average 20 year old worker is now over twice as likely to become disabled before the age of 68 as they are to pass away.

Even young workers should look at getting a level of disability coverage that takes care of 60-80% of your after-tax income. This will give you enough to take care of the absolute essential of living expenses if the worst should happen, and give you at least enough to live on until you reach a fully healthy state once again.

Get Some Protection

Even if you can’t budget for that ideal disability insurance policy that covers 60-80% of income, at least get some coverage. After all, even quarter or half coverage is still better than absolutely nothing at all.

Don’t forget to consider supplemental options! Your job may or may not offer very good coverage. If it offers enough, then great. If it doesn’t, why not look at the benefits that a supplemental plan can provide for you?

After speaking with our professionals you might be amazed at how affordable a high quality disability insurance plan can be.

Reputation Matters

Reputation matters when it comes to choosing the right company to help you with your insurance needs. Talk to our professionals and you can rest easy knowing you are getting personalized advice that is customized to your specific situation and your specific needs.

Let’s see what type of disability insurance plan is right for you!