Is Insuring for Disability Worth It

Is Insuring for Disability Worth It?

What are the chances you will actually become disabled during your working lifetime? Well, it's greater than you may think. One quarter of Americans entering the workforce will experience a disability before retirement and the average time of disability is nearly three years. Is your budget equipped to handle a disability?

The most common conditions that lead to a long-term disability include neck and back and joint and muscle injuries or disorders. Long-haul and delivery drivers, warehouse workers, and those lifting heavy weight throughout the day are most susceptible to these types of injuries, but so are those with degenerative disc diseases or anyone performing repetitive joint motion. Short-term disability conditions may be related to hand or foot injuries, with the most common being carpal tunnel syndrome. The bottom line is that any injury could result in a period of time during which you can't work in your job—or any job—due to limited functionality.

Both short-term and long-term disability products can be offered through an employer's group plan or you can purchase protection individually through your insurance professional.

Disability policies vary in price, benefits, elimination periods (deductible), and conditions. Your disability insurance professional can discuss short- and long-term options to protect your assets, your family, and your future.