If you are skeptical about investing in disability insurance, you may be surprised to learn that almost 1/3 of Americans that enter the workforce today will become disabled before they retire. Less than 10% of disabling accidents are work related. The other 90% are not, meaning workers compensation does not cover them. Only 35% of workers that apply for Social Security Disability Insurance claims in 2009 were approved.
Purchasing disability insurance will provide you with the money that you need to replace the income that you would have earned if you had not become disabled. Having a plan to ensure that you can pay your bills, buy food, and continue paying other living expenses if you become disabled, is important.
The ability that you have to earn money is, arguably, your most valuable asset. Your earning power is the asset on which all other assets depend – your home, car, education and investments. Keeping your earning power secure and ensuring that you have the proper disability insurance can drastically change your ability to provide for yourself in the future.
Contact us or stop by our offices so we can help you find the disability insurance that is best suited for your specific needs.
Sources: Social Security Administration, Fact Sheet Jan. 2009. Council for Disability Awareness, Long-Term Disability Claims Review, 2010.
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