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The science of disability insurance

If you’re young and healthy, you’ve probably given the notion of disability insurance little thought. Most of the employees in this age range may even make fun of him as insignificant in view of his youth.

“Disability insurance? Compensation if I can’t work?” they may exclaim. “Wow, this is coverage I really don’t need.”

If you were to talk to the professionals, those who are in the trenches when it comes to related liability and insurance claims, you would hear a very different story. In fact, the discussion would lead him to be very grateful to be covered.

Deep down, every person understands that whatever blessings we have in life should never be taken for granted. Car accidents, business mishaps, devastation at home – all of these things happen. Similarly, no one can guarantee that illness or disease will not disrupt a life once devoid of it, regardless of the current season one finds himself in.

Do you need more on the matter? Here are the sobering facts:

• 1 in 4 young people in their twenties suffers from a long-term illness or injury.
• Each year, there are more than 700,000 workers and salaried employees who receive Social Security disability insurance benefits.
• In general, 1 in 15 employees files a short-term disability claim each year.
• Almost fifty percent of all Americans do not have the money to finance a four hundred dollar medical emergency.
• Breaking or fracturing a leg can cause a break in employment of three months or more.
• On average, a long-term disability insurance claim lasts more than two years and six months.
• A work-related physical disability can be the result of many factors, including chronic headaches, ongoing back pain, cancer-related treatment, the birth of a new baby, vision loss, heart disease, mental illness and emotional and affliction, as well as other illnesses and situations.
• The median income of recent college graduates is about $1,101. Compare that to the average maximum long-term disability claim of $125,450 for lost earnings.

With the data currently available on young workers, a disability that makes someone unable to work would have devastating effects without adequate insurance coverage.

did you know

• Thirty-five percent of young employees experience difficulty meeting daily monthly costs.
• Close to 70 percent of all US citizens do not have even a thousand dollars in savings.
• To make matters worse, thirty-one percent of those in the eighteen to thirty age range have no savings at all.
Life has its financial responsibilities. These can include rent, mortgage, student loans, car payments, and more. Protect your earnings and ability to make ends meet by making sure you have protective indemnity disability insurance.

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