You never know what life is like and when there comes a time where it isn’t possible for you to work anymore. This may be because you got seriously injured, are on maternity leave, or have a disability that does not enable you to work. In such times, you need a helping hand. Someone who could help you survive these months without being paid.
We believe investing in disability insurance is a very smart way to keep yourself safe in a very difficult situation. By investing in disability insurance, you can guarantee to get 40 to 70 percent of your salary in these months depending on the plan you chose.
You might be wondering whether disability insurance is the right move for you or not. If you are someone who doesn’t have a large amount of money saved, depend on your income to support your lifestyle and living, and are someone who cannot afford to be out of work for some time, then this insurance is for you.
There are three different types of disability programs you could look into. Short term disability insurance is when you come into a short crisis and you know you will be able to recover. In such a scenario, you can opt for this insurance. This sort of insurance will be your helping hand for when you’re not able to work due to a surgery or some other medical reason.
Long term disability insurance is for those who are out of work for a longer period due to an accident or serious illness. When a person knows he/she won’t be able to return to work for a while, this insurance would benefit them greatly.
If you are someone who earns well, then individual disability insurance is perfect for you. You can use your bonuses and commission which will supplement long term disability insurance as well as return a much higher sum of money when in need.