Avoid Disabling Yourself without Proper Insurance Coverage

Not having a solid disability insurance plan in place can come back to haunt individuals who are injured or suffer an illness while on the job and then have no real means to finance their bills.

With a visit to InsuranceQuotesus.com, consumers can learn about disability insurance and how the right plan can protect them and their families financially should they suffer a major injury.

As a report from the National Association of Insurance Commissioners (NAIC) notes, at any given age, the chances of one becoming disabled are much greater than the odds of passing away. ,

Each year, 12 percent of the U.S. adult population deals with a long-term disability. One out of every seven workers will be dealt a five-year or longer time frame of disability prior to the age of 65. In the event you are age 35 now, the odds of experiencing a three-month or greater disability prior to reaching age 65 are 50 percent. For those at age 45, the number is 44 percent. The 2007 report also states that 56 percent of adults indicated they would be unable to deal with their expenses if they could not work for one year. ,

As it stands, a smaller number of employers offer disability insurance than life insurance, while it is much more difficult to qualify for individual disability coverage than individual life.

When an individual applies for disability insurance, the insurer can let you know if you have too much money in order to qualify for protection. In typical cases, individuals can receive a maximum of 60 percent of their monthly earned income prior to taxes. Keep in mind that unearned or investment income will not qualify, given the fact it presumably continues even in the event you are disabled.

Another form of disability insurance is workers’ compensation.

A large number of employers are required to provide this coverage, although the figure and duration of monthly benefits does vary from state to state. Workers’ comp takes effect if your disability is job-related.

Having a disability insurance policy is a good way to protect you and your family should the worst occur.