Do you have your income protected against disability?
It’s amazing how many people discount the need for disability insurance. According to the U.S. Census Bureau regarding disability, nearly one in every five Americans is living with a disability. In addition to the emotional and logistical issues, a disability places unnecessary financial stress on the family.
While the word “disability” may immediately conjure up images of wheelchairs, disabilities come in many different forms. Here are 10 of the most common conditions that could be covered under disability insurance.
Arthritis & Musculoskeletal Problems
We depend on our muscles and joints to help us move in both our everyday lives and at work. When arthritis and other musculoskeletal issues strike, it can make it difficult or impossible to work.
Heart Disease
According to WebMD , heart disease is estimated to be responsible for a whopping 17% of all of the health costs in the U.S. today. As the condition worsens, it can become impossible to continue working.
Lung & Respiratory Problems
COPD and other lung ailments are a common reason to file for disability benefits. Lung conditions can affect people of all ages, making it difficult to breathe.
Depression/mental illness
Mental health conditions, including depression, can be just as disabling as physical health conditions and are a common reason for filing for disability benefits.
Diabetes
Linked to other causes on this list, including obesity and heart disease, diabetes is another common cause of disability among people in the U.S.
Stroke
The effects of a stroke can range from very mild to life-altering. Depending on the severity, after a stroke, the victim may not be able to work again, at least in the short-term.
Cancer
The impact of cancer – and of standard treatments for it – can be disabling.
Nervous System Disorders
Multiple Sclerosis, Alzheimer’s, Parkinson’s, ALS, Epilepsy, and other conditions that affect the brain and nerves are common and can affect both the young and young-at-heart alike.
Accident Injuries
Anyone of us could become injured at any time as the result of an accident at home, at work, or anywhere else. When those injuries impact your ability to do your job, you have a disability.
Pregnancy
Yes, you read that right. While pregnancy isn’t a disability in the typical sense of the word, employers often provide short-term disability benefits for pregnant employees. If complications arise, there may also be a need for more long-term benefits.
How Disability Insurance Protects Your Loved Ones
When disability strikes – whatever form it takes – your monthly financial obligations will still be there. That’s where disability insurance meets the shortage. It simply provides an ongoing cash benefit paid directly to the insured to help cover living expenses.
Social Security is not a viable option due to 1) the time required to become approved, 2) benefits being based on “any occupation” definition of disability, and 3) the pitiful amount it pays.
Contact Ascend Financial Group for a customized disability insurance quote based on your specific profession and income.