Why is Disability Insurance Important?
Disability insurance is often overlooked, and many people underestimate the importance of it. According to the Council for Disability Awareness, 51 million working adults in America don’t have disability insurance other than the basics of what is covered through Social Security. Here is what disability insurance is and why it is important.
What is disability insurance?
Disability insurance is the type of insurance that covers financial loss if an illness or injury keeps someone from working for an extended period of time. Most of the time, disability insurance does not replace the individual’s full income but a portion of it.
Disability insurance is provided by the employer and is a voluntary benefit. This means that disability insurance is a type of benefit that is offered through an employer but paid for partially or solely by workers through payroll deduction. To learn more about how voluntary benefits work, click here.
Why is disability insurance important?
According to the Council for Disability Awareness, more than one in four of today’s 20-year-olds can expect to be out of work for at least a year because of a disabling condition before they reach the normal retirement age. Long-term and short-term disabilities are caused by many different factors.
Did you know that only 10% of disability claims are injury related? Some of the most common are mental health disorders, musculoskeletal disorders, pregnancies, and cancer.
These disabilities that can take you out of the workplace are more common than you would think, and it is essential to ensure that you are covered.
To learn more about the importance of disability insurance, click here. If you’re interested in learning more about our services, give us a call at 770.769.2988 or contact us here.