Any accident, illness, or diagnosed condition (pregnancy) has the potential to disrupt your income, leading to
significant financial difficulties. That means being ready for the unexpected, whether it be on or off the job. We protect our cars. We protect our homes. We protect our boats. We protect our phones. What about our income?
Disability insurance is a viable option for people who are unable to work because of an illness or injury. Its benefits provide the means to pay the bills and cover household expenses while not working, either on a long-term or short-term basis. Estimates may vary, but a good rule of thumb for disability insurance is to have six months of income available to be paid out.
Work-related disabilities are usually covered by workers’ compensation laws, sometimes disability insurance benefits can be paid for work-related issues. Disability insurance usually is for situations away from work such as elective surgery, pregnancy, childbirth, or related medical conditions, such as sickness, injuries, or accidents.
Disability insurance is often available through the Social Security Administration, and many large companies provide it as part of an employee’s regular compensation package. The third option, for those who work for themselves or whose employers cannot provide it, is to purchase it from private insurance companies, like those represented by BeneTrend. As with other types of insurance, premiums are determined by a person’s age, occupation and other factors.
Reach out to BeneTrend Partners and get some expert advice on how to take care of your family in case the unexpected happens.
