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What will you do if you are disable to work?

Disability Insurance should be considered as a key component of your financial investment in long term. First of all, you need to understand what Disability Insurance does. Disability Insurance replaces for the lost income of insured person in the events of disability happened after accidents or sickness, it can be either physical disability or psychological disability. At this point, most of us will immediately think of saving amount for the storm days. Yet, have you considered it in a long term basis? There are many considerations taken that you should be mindful of.

Without disability insurance protection, you and your family members may live on the edge. Many people think of depending on their spouse’s salary. Then it will be a big burden and is it enough to cover for everything? If you have to withdraw your savings, retirement investment, now you get into a serious situation for financing. You may lose your house, investment, retirement plan egg. In some cases, the couple has divorced, and it led one of them disable to work mentally. Then, at this time, you definitely need some certain income to cover your living expenses.

It is true that many employees’ benefits included with disability insurance. Then check with your employer, how many percentages of your income will be paid? If you are the main source of income or earning a high income, so is that amount paid from your benefits enough? Once you get your disability insurance, you will be covered 100%, and you can combine with your benefits from employer.

Research shows high chances that workers will become disabled from work for at least 90 days at some points of their career. In addition, it depends on the type of jobs you are working, and then your chances may be even higher than others. As a result, lack of disability insurance may lead you to an even more difficult situation. 

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