Disability Insurance

Disability is very unpredictable, if you became disabled, your skill and chances of working could be halt, even though you still have few money left on you bank but what would happen if you're unable to sustain and maintain your short-tem needs? Or even unemployed for a month? Disability Insurance now comes in and is very useful, in fact this could even protect you from the long drag.

A look at the odds

Being disabled is quietly unexpected, the following events are as followed:

Event Frequency
Home fire 1 out of every 88 homes
Fatal auto accident 1 out of every 70 autos
Deaths 1 out of every 106 people
Disabilities 1 out of every 8 people

A glance at disability stats reveals the following below:

• 30 year old man has got 1 in 5 chances of tolerate disability before the planned retirement.
• 30 year old woman has got 1 in 3 chances of endure disability before her planned retirement.
• There are 50% of people who have to go thru disabilities longer that 6 months continues to be disabled after 5 years.
• There are two common causes of disabilities, these are Heart diseases and back problems.
• Majority of people lost their homes due to disabilities rather than fire or deaths.
• 1 in 7 employees will be disabled in 5 years before giving up with work.

Researches indicated that medicine had founded ways of treating many injuries and illness which are very severe, this maybe good news for you to increase your need to protect your income with disability insurances

Although, some of these statistics may show false information, there's a low possibility of you becoming disabled when your healthy and you work on a low level risk of job. Are you aware of how many people who undergo with cancer and severe great heart attack? Or even among your friends who had a fatal car accidents? With illness and being disabled? What if you'll experience these kinds of situations? How would you able to give support to you family or even for yourself?

What would happen if you became disabled?

Unfortunate events could strike you anytime of the day, especially when you have experience a sever physical damage and you couldn't work for a week or even months, what if your married and you've got children's funds to attend to but for sure your spouse can help you with the expenses, but being the head of the family, you also have your financial obligation for them. But what if your spouse can only support less income for the family?

You should also take note that you don't have to work on a dangerous kind of job in order to get disability insurance, injuries and fatalities could even occur at home or even illness can strike anyone. On this explanations and samples stated, one must think about and consider on getting disability insurance for their sake.

But isn't disability coverage through an employer or the government enough?

This thought might come into your head like your sufficiently insured against disability because of the exposure through your government programs like Social Security or workers compensations. There are 50% employers covers a short-term disability and 40% covers long-term disability, the government will pay your benefits if you can provide a firm explanation of disability, below are some ideas you may benefit.

• Social Security

- You should not expect too much on the benefits you can get from the disabilities you may have eligible from Social Security, they tend to deny more than 50% of the claims presented, depends again with your firm definition of disability. Even if you're estimated to have an eligible benefit, but still you won't be receiving them until for least 6 months from being disabled, social security imposes a waiting period.

• Workers' compensation

- you may be compensated with disability insurance benefit if your sick, injured or Ill due to job related reasons, you should also take note that your compensation for disability will only take effect when your disability is caused by work related, so it only offers limited protection. Other states only cover disabilities like diseases.

• Pension plans

- these pension plans may pay based on the total, permanent disability, minuses the retirement assessment equally to what you have received for disability, these benefits are usually included with social security or workers compensation, your benefits would be less than you might expect when you receive these disabilities from the government source.