Disability Insurance

When Valerie fell down the staircase at her son's school she knew she was in pain. What she didn't know is that she broke her hip and that the recovery would mean she would be out of work for 12 weeks.

If you became ill or temporarily disabled and could not work, could you be able to pay your bills? What if you were permanently disabled and not able to return to your job or even to work at all?

Accidents happen all the time - about every 4 seconds, according to the National Safety Council.  And, according to the American Council of Life Insurers, nearly one-third of all Americans will suffer a serious disability between the ages of 35 and 65 and a person age 35 is six times more likely to become disabled than die before reaching the age of 65. In a 2005 study, researchers from Harvard Medical and Harvard Law Schools found that nearly 50 percent of all personal bankruptcies are caused by medical bills and illness-related expenses.

For just a moment reflect on your own financial situation. You have worked very hard to reach the place you are currently at as a member of the business community. You are financially comfortable, and while we could all use more money, you have provided a lifestyle for your family that is enjoyable and fulfilling. However, an unforeseen event, such as a car accident or heart attack prevents you from working and earning an income. While you believed that by purchasing life insurance you had thoroughly protected your family's interests if you passed on, but you never contemplated the possibility of life with, or after a disability.

Ask yourself this question, "When was the last time I took a 9 month vacation?". If the answer is never, than you need disability insurance. If you knew that the odds of becoming seriously disabled were only 5%, would you go without disability insurance? Would you put your entire financial security at risk of a total collapse by not having disability insurance? That's what happens to people who don't have disability income insurance when a sickness or injury prevents them from bringing home a paycheck. Think about the financial stress in your life right now, then amplify it ten-fold when there is no monthly income because of your disability.

Not having disability insurance is a BAD MOVE, there is no excuse for not having it unless you are independently wealthy. The worst excuse is "I can't afford it", that only means that you are on the edge more than many, and have the most to lose in the shortest amount of time.

Disability insurance exists to help you pay your monthly bills and stay financially stable in the event of a sickness or injury. Without disability insurance you are running the risk of placing your lifestyle and family's well being at jeopardy. 

Purchasing a quality disability insurance contract that allows you to feel comfortable and confident that the needs of you and your family will be taken care of, is irreplaceable.  There are two forms of disability insurance: short-term and long-term insurance. Both are independent, meaning that you can purchase one or the other, or both.

• Short-term disability insurance. This type of insurance provides a partial replacement of your income for a short period of time ý typically two to 26 weeks.
• Long-term disability insurance. This type of insurance provides a partial replacement of your income for an extended period of time after a significantly disabling injury or illness.

To find out more information, fill out our no obligation disability quote form, and one of our friendly agents will contact you.