Value of having Disability Insurance

If you are unsure of the value of a disability insurance policy, think about this: more than 18 percent of Americans currently live with a disability, and one in four Americans will suffer a disabling injury prior to their retirement.

In fact, many of today’s most common diseases are also the leading causes of disability. These include arthritis or rheumatism, back and spine conditions, heart disease or other heart conditions, lung or respiratory problems, mental or emotional illness, diabetes, hearing impairment or loss, blindness or other vision problems, and stroke.

A disability can be any number of impairments. Disability Benefits help make sure that these impairments don’t keep you from paying the mortgage, stocking the fridge, and providing for your family.

While disability insurance is a wise investment for anyone with dependents, it is especially wise for those people who serve as the primary breadwinner in their families. Disability insurance covers lost income due to injury-related disability but also covers disability stemming from illness.

With a private disability insurance policy, you can tailor your coverage to your needs. However, most disability insurance policies cover about 60 percent of the beneficiary’s current income. However, it’s important for you to discuss different policies and coverage with an experienced insurance agent who can help you navigate the policies and warn you against “bargain” policies that may not give you the coverage you really need.