Your biggest asset is your ability to earn an income, yet most Americans can’t afford to pay their bills if an illness or accident prevents them from working. Ask yourself a question: How long could I survive without a paycheck? If you’re like the majority of the country, that answer is only a couple of weeks. Disability insurance is coverage you purchase to make sure you can continue paying your bills even if you are unable to work for awhile.
Disability insurance is designed to replace a part of your monthly income if you can’t work for awhile, either because of an injury or an illness. You can use the money from your policy for whatever you need to, whether that’s paying your rent, covering some of your healthcare expenses, or even to hire a babysitter.
There are two types of disability insurance: short-term and long-term.
Short-term disability is intended to help you immediately after an accident or illness prevents you from working. This coverage typically only provides benefits for up to two years.
Long-term disability will create a steady income replacement for a much longer period of time. Most policies will pay out benefits for five or ten years, or even up to age 65.
The latest studies show that one in four, or 25%, of people will become disabled at some point in their working career.
For a free, no-obligation disability insurance quote, call us at 402.830.5904 or fill out our quote form online by going here.