These are some of the best times to consider purchasing an individual disability insurance policy. Carriers are now more flexible on who can get coverage, and statistics show that more consumers benefit from it. And you? Have you considered adding a disability under your insurance umbrella
Here are some reasons why more people get individual coverage for them- same :?
- increased value to protect your income. Times are hard. Protect your ability to win is paramount. Keep in mind that a third of those entering the labor market will suffer a disability before retirement.
- Increasing the number of older people in the workforce. Older people are more at risk of having a disability, especially if the job involves manual labor.
- The recession. the group disability insurance offered by your employer is usually basic. With more employees by reducing benefits, disability insurance from your employer may have gotten skimpier or even disappeared.
- More benefits with an individual policy. Anyone can get disability insurance, even if you have a pre-existing condition. You do not have to go through a medical exam or provide a blood test.
- Portability. the workplace disability insurance may have limited functionality and is active only when you have your work. individual disability insurance, on the other hand, ensures that you are never without disability coverage when you need it, even when you're between jobs.
- The tax benefits. The benefits received are completely tax free.
Despite the advantages, there are still some myths that prevent people from buying disability insurance. Some people think workers' compensation will pay for disability. But kicking in workers' compensation only when an accident occurs at work. About 0 percent of disabilities are not related to the workplace. In fact, most disabilities are due to illness, not an accident. There is also a tendency to think that social security can cover your needs if a disability strikes, but it may not be the case. About 65 percent of applicants for Social Security disability benefits are initially denied.
Having your own coverage could mean financial survival for you and your family. You can receive better disability coverage by shopping the best insurance carriers. Get a free quote.
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