You may already be familiar with how Workers’ Comp works: if you get injured at work or on a job site, you will receive compensation to replace the income lost due to being unable to work due to your injuries or work related sickness. However, did you know that over 90% of insurance claims are due to various illnesses, or injuries occurred at home or off the job? For these types of accidents or illnesses, no Workman’s Comp benefits will be paid for lost wages.
Maybe I can sue someone?
Unless you trip and fall at the mall, or you injure yourself while biking, due to a defective part of your bike, chances are that you may not be able to blame someone else for your injury. How about that heart disease or diabetes running in your family, that dangles over your head? You can’t sue your parents for giving you defective genes. Critical illnesses that are not work related make up the majority of health cases in the US.
So, how can one make sure they are covered for the rest of 90% of situations when they can’t work due to a health condition? Income protection with Disability insurance.
Income Protection with Disability Insurance
Don’t think of disability as something that will necessarily put you in a wheelchair. Think of being too sick or too hurt to work. Disability insurance will pay a monthly benefit to replace (part of) the paychecks lost due to your ailment, until you return to work full time or stop incurring loss of wages, or until you reach the maximum benefit period on your policy, whichever comes first.
Long story short, if you depend on your income to pay for your bills, rent or mortgage and maintain your current lifestyle, chances are that you need to get some disability insurance.
Contact Daniel today for any questions and a free quote.