A lot of people don't bother getting disability insurance. They figure they don't need it. However, this type of insurance can really make a difference should something happen to you that kept you from working for any length of time. Most people can't afford to go without working for more than a few weeks or a few months. However, a difficult pregnancy or a long illness can keep you out of work for longer than that. Unless you have a lot of savings for emergencies or a lot of money in general, it would be a good idea to get this type of insurance.
Many people think that the disability insurance provided by their employer will be enough, but most of these policies have a maximum amount that they pay out per month, which is usually about 60 percent of your salary or even less if you have a pretty high salary since there is a cap on how much they will pay. Also, the benefits you get from work are taxed, so you will end up with even less than the 60 percent you might be expecting. A supplemental policy might be necessary in order to meet all of your expenses. Check into the insurance that is provided by your employer to see what the terms and conditions are so you are prepared should something happen.
Some people think that since they have a desk job they are not likely to be injured, or that since they are young they don't need disability insurance. However, a lot of people in their 30s end up using this type of insurance each year. Usually these policies cover illnesses and difficult pregnancies as well as accidents, so they are just as useful (or more useful) for younger individuals as they are for older individuals.
People also tend to think that they don't need to pay out of their pocket for disability insurance because they will be able to get money from workers comp or social security disability insurance benefits. However, money from these sources is not available for all of the conditions that are covered under insurance for disability. Social security requires you to be out of work for a long time and is very difficult to get approved for, and workers comp only covers workplace injuries, not illnesses or pregnancy.
Rick enjoys writing articles on a wide variety of topics and interests. Come visit his latest website over at bed in a bag clearance which helps people find the best bedding in a bag and information they need to make a wise decision about bedroom furnishings.
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