For many of us, all this bending, pushing and swinging follows a winter of virtual inactivity. It’s no wonder that there are a few strains and sprains along the way. If an injury is significant enough, it may even keep you away from work. In fact, statistics show that an average worker has nearly a 40% chance of suffering a disabling injury or illness some time during their income earning years. Long term disabilities of 90 days or more may also be the result of a serious accident or illness.
If you are taken away from work by a disabling injury or illness, what happens to your income? Take a moment and think about the expenses and bills that need to be covered in an average month. Now take that cost times 3 months or 6 months. The dollars really start to add up. If you are like most people, that money probably isn’t sitting in the bank. Even if it is, most people don’t want to take a big bite out of their savings, if they can prevent it.
So what is the answer? You may have heard of Income replacement insurance also known as disability insurance. Disability insurance can be set up in a variety of ways, including short term or as long as to age 65 and it may replace up to 66% of your income. The premium is based on occupation, benefit amount and length. For farmers, the premium can be calculated based on farm or herd size. We work with both group and individual disability policies. Some very high risk occupations aren’t covered.
Being kept away from work by a disabling illness or injury is a very real concern for the average working person. Thinking about the months of expenses and bills piling up would give most people something to ponder. Taking one small step could save a great deal of fretting. Contact us to learn more about disability insurance. It may be the most worthwhile call you’ll make all day.
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