Insurance Science of Disability

If you’re young and healthy, you’ve probably given little thought to the concept of disability insurance. Most workers in this age range might even dismiss it as negligible considering their youth.

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

If you talk to the professionals – those in the trenches when it comes to related liability and insurance claims – you’ll hear a very different story. In fact, the discussion will lead you to be very grateful for your protection!

Deep down, everyone understands that any blessing we have in life should never be taken lightly. Car accidents, work accidents, home demolition – all this happens. Likewise, no one can guarantee that illness or disease will not disrupt a life without it, whatever the situation.

Need more on the subject? Here are the sobering facts:

• 1 in 4 young people in the 20-year-old age bracket suffers from a long-term illness or injury.
• There are more than 700,000 wage workers and employees who receive social security and disability insurance benefits each year.
• Generally, 1 out of every 15 employees apply for short-term disability every year.
• Almost fifty percent of Americans do not have the money to finance a four-hundred-dollar medical emergency.
• A broken or broken leg can result in a business interruption of three months or more.
• On average, a long-term disability insurance claim takes longer than two years and six months.
• Work-related physical disability can be the result of a variety of factors, including chronic headaches, ongoing backaches, cancer-related treatments, treatment, birth of a new baby, vision loss, heart disease, mental and emotional illness, and fever. other diseases and conditions.
• The average income of newly graduated higher education students is approximately $1,101. Weigh that in with an average long-term disability claim of maximum $125,450 in lost income.

See also  Pros and Cons of Critical Illness Insurance Coverage

With the current available data on young workers, a disability that renders someone unable to work can have devastating effects without proper insurance coverage.

Do you know?

• Thirty-five percent of young workers have difficulty meeting their daily monthly costs.
• About 70 percent of all US citizens do not have even a thousand dollars in savings.
• Worse still, thirty percent of those aged eighteen to thirty have no savings at all.
Life has financial responsibilities. These can include rent, mortgages, student loans, direct payments, and more. Protect your earnings and ability to make a living by making sure you have the protective compensation of disability insurance.

About Lily Hammond

I have been working as an insurance consultant in my own insurance agency since 1998. Because I've been doing this for so long, I know every detail and I'm here to help you. You can find my e-mail address and work phone on the contact page.

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