Understanding the benefits of disability insurance.
Insurance is about protecting some of your most important assets such as your home, vehicles, and high-value belongings. But what about protecting your paycheck? What would happen if you became seriously ill or injured and weren’t able to work for some time? Here is where disability insurance comes into play.
What is disability insurance?
Disability insurance is coverage that partially replaces your income when you can’t work, usually due to a physical injury or ailment. The most common reasons people use disability insurance are pregnancy, cancer, back pain, and digestive disorders. There are two types of disability insurance: short-term and long-term. Short-term disability helps to pay for three to six months of income, while long-term coverage protects you for a greater period of time.
Why do I need disability insurance?
The chance of missing months or years of work because of an injury or illness may seem remote, especially if you’re young and healthy. However, one in four 20-year-olds will experience a disability for 90 days or more before they reach 67. If you do not have enough funds to take months or even years out of work, then disability insurance can help you replace that income when you need it the most.
How to get disability insurance
If you’re traditionally employed, your company might offer disability insurance either for free or at a greatly reduced price. If your employer only offers short-term policies, you may want to consider looking for long-term disability coverage outside of what your employer offers so that you’re covered in the event of a long-term disability or illness.
Ready to get started? Finding the right disability insurance policy that will best meet your needs is easy when you contact Donald Weiss Insurance Services. As an independent insurance agency serving California and Nevada, we will help you find the perfect policy for your specific situation, all at the right price to fit your budget!