3 reasons why you think you do not need disability insurance (but actually do)

Most people, if asked, have trouble explain what disability really is. It is actually quite simple to define: Disability insurance protects your salary

If you become injured or ill and can not work, disability insurance pays you a portion of your salary until you can return to work .. a Life Happens survey revealed that most people could not do a month without their paycheck before financial difficulties would set. So it's easy to see how the disability is.

"It's fine," you say, "but here's why I do not need"

Reason 1: "I'm young and. healthy. A disability will never happen to me "

The truth :. You actually have three in 10 chance of suffering a disability that prevents you from working for 0 days or more at some point your career, according to a survey Happens life. You do not know which side of that statistic, you'll be on

Reason # 2 :.

Truth "I could count on government benefits." most long-term disabilities are the result of an injury or illness that is not work-related, and thus would not be eligible for workers' compensation. And if you plan on disability social security benefits, who pay an average of $ 1,100 per month, which let you live around the poverty level

Reason 3 :. "I have a disability coverage through work"

truth :. you can, but it is more than likely you do not. Most (70%) of private employers do not offer long-term disability insurance, according to the US Department of Labor

The bottom line is this :. If you work and rely on your paycheck, you need disability insurance.

Next steps

What you need to do is:

1. Find out what disability insurance coverage you have at work ( short term, long term, both or none). Your HR department can help you with that.

2. Make sure you know the coverage you really need by using this easy online disability insurance calculator needs. (Keep in mind: Your employer can give you coverage as a benefit, but it does not mean that it is enough)

3. Get individual disability insurance to fill gaps you might have to make sure that you are covered if something were to happen to you. An insurance agent sit down with you for free and help you find a policy that fits your needs and budget.