We recently published a post about short-term disability and its importance in your overall financial preparedness for the future, since about one in four workers are likely to experience a disabling event at some point in their career. What you also should know is that the risk of any individual facing a long-term disability could be just as high.
So, while it’s troubling to think about something causing you to be out of work (and without any income) for a few months, imagine the ramifications if you were unable to work for 2, 5, or even 10 years. The effects could be devastating on the lives and livelihood of you and your family.
Short-term disability coverage is ideal for conditions such as pregnancy or a temporary disabling injury or illness. But what happens when complications arise, when injuries are more severe, or when an unexpected illness renders you unable to work indefinitely?
Some common reasons people become disabled for long periods of time include cancer, chronic pain, and even arthritis. It’s likely that all of us know someone, if not multiple people, who have been affected by these or other conditions and have seen the tremendous toll it has taken on their finances.
There are many plans out there that can be tailored to your budget, risk factors, and other unique needs. The most important thing is that you sit down with someone to talk real numbers and how an unexpected disabling event would impact your family. Coverage may be affordable than you think. Call us today.