Disability Insurance


For many of us, not being able to work for an extended length of time may cause us to use savings, or worse, go into debt. Below we have a few of the many reasons why disability insurance is important.What would happen if you were unable to work for 30 days, 60 days or even one year? That’s a question many are left wondering after they get into an accident and are facing life-changing circumstances. According to the website DoctorDisability.com, approximately 30% of all people ages 35 to 65 will suffer a disability that lasts at least 90 days. For many of us, not being able to work for an extended length of time may cause us to use savings, or worse, go into debt. Below we have a few of the many reasons why disability insurance is important.

Protect Your Assets

The most important reason to consider disability insurance is to protect your assets. Your home and your transportation are likely the most important assets you have. If you were unable to work, can you imagine not being able to make your house payment? Or what would you do if you no longer had transportation to get to the necessary doctor’s appointments? Disability insurance protects you and your assets if you are unable to work.

Don’t Assume You’ll Always Be Healthy

This is a tough one to swallow, but we can never take our health for granted. Of no fault of your own you can become hurt in an accident or disabled. According to the Social Security Administration website, more than 775,000 disabled workers received benefits in 2015. Disability insurance is a plan that is in place for when the unexpected happens, so you should think long and hard if it’s in your best interest to get covered before something happens.

Government Benefits Only Cover So Much

As mentioned above, more than 775,000 disabled workers received Social Security benefits in 2015. But is that enough to cover all of your expenses? While we do suggest learning more about government assistance, it’s recommended that you have a comprehensive coverage in place to assure you can cover the totality of possible expenses.

Contact Us For More Information

Colonial affiliate Colonial Life Insurance Company of Texas offers various disability coverages. Coverages are available that can make your mortgage payments for up to two years if you should become disabled. Both “accident only” coverages and “accident and sickness” coverages are available. Get a quote today, or give us a call at 817.390.2350.

 

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No one wants to think about death, especially when they’re young. But there are plenty of reasons they may want to start thinking about it and how to take that first step toward financial protection. Learn more about the Benefits of Getting Life Insurance While Young.

 

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