Put simply, disability insurance ensures a portion of your income should you fall ill or need to take a leave of absence due to a disability.
While we’ve all likely heard of insurance to cover your home, your life, your vehicles, and even your recreational vehicles, disability insurance is often an overlooked asset. Your ability to work and earn an income is vital to your well-being and being able to afford all of the above-mentioned items, which is why it’s a great idea to protect it.
While your age, your health history, and your annual income all affect how much you’ll have to pay for disability insurance, it’s still a good idea to at least look at making the investment, especially since you don’t know if or when you’ll be affected by an injury or disability that takes you out of the workforce for an extended period of time.
The major benefit of disability insurance is knowing that if you do fall ill or are disabled for a longer period of time, you won’t be completely without an income. There are both short-term and long-term policies, depending on your individual needs. There are also options for Social Security disability insurance and workers’ compensation insurance.
Each plan is unique in who it serves and the purpose for purchasing the policy. While we don’t like to think we’ll be one of the one in four who will experience a short or long-term illness or disabilities in our lives, it’s just simply not up to us. It’s good to be prepared with knowledge should you face the need for disability insurance in the future. At Fortress Insurance Services, if you live in the Urbandale, Ames, or Mt. Pleasant area, we’d love to chat with you about our disability insurance options.