Important Things You Need to Know About Disability Insurance

Staying healthy is something most people are passionate about. The key to avoiding problems with health issues arise is being prepared. Abiding by the “it will never happen to me” philosophy can put you in a compromising situation should you be rendered unable to work due to a disability.

One of the best things you can do to prepare for these hard times is to invest in disability insurance. This type of insurance is not very expensive and can be a lifesaver if you are injured due to no fault of your own.

Are you on the fence about getting disability insurance? If so, check out the helpful information below.

Don’t Let an Injury Take You Out of the Game

If you are young and healthy, you may be wondering why you need to invest in disability policy. There are over 40 million disabled individuals in the United States. A disability can arise from a car accident, a slip and fall injury at work or even from a defective product.

Having an insurance policy in place can help you avoid making a bad situation worse. If you have problems with your insurance company paying a claim you have made, contacting legal professionals is a good idea. With the help of an insurance lawyer, you can figure out what needs to be done to get a claim approved.

Some People Have a Disability Policy and Don’t Even Know It

There are a number of people who have a disability policy in their name without even knowing about it. If you work for an employer who has workers’ compensation coverage, then you can get compensation for a disability caused by an on the job accident.

Over 25 per cent of all long-term disabilities are caused by work-related injuries. This is why checking to see if you have workers’ compensation coverage is so important.

You may also be able to get disability payments from Social Security if you have been paying into this program for a while. However, the disability you have needs to be severe in nature in order to get approved for these payments. If you are having trouble getting approved for this type of disability, reaching out to a lawyer may be a good idea.

Learning How to Control the Cost of Disability Insurance

If you are like most people, finding ways to save money is one of the things you are passionate about. Most people fail to realize there are a number of things they can do to reduce the cost of their disability insurance.

Often times, these policies will provide 60 per cent of your salary as payment. If you take a lower amount, you can reduce the amount of money you pay for the policy.

You can also save a few dollars on a disability policy by refusing certain add-ons. Typically, an insurance agent will offer add-ons like inflation protection. While this will provide you with a cost-of-living increase based on the market, it costs quite a bit more to add this protection onto a policy.

Are you having problems getting a disability claim approved? If you answered yes, you need to speak with a lawyer in your area to find out how to solve this issue. With their help, you can take on the insurance company and get the compensation you are owed.