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The Most Overlooked Insurance – Disability | Naples Insurance Agency | Fort Myers Insurance Agency

Jan, 02

disabilityMost of us when considering types of insurance simply dismiss disability insurance thinking “Oh, I don’t need that. I’ll be just fine.” The problem is, there are no guarantees in life. Health is one of them.

If you were to suddenly fall ill or have an accident where you could not work for a period or worse became permanently disabled  – could your family make it without your paycheck? Could you on your own?

According to the United States, Social Security Administration 1 in 4 out of today’s millennials could become disabled before reaching age 67. Although the majority are entitled to social security benefits because they have paid into the system over the years, you have to go to court to prove legal disability which means you have been unable to work at all, in any capacity for a full year or be deemed terminally ill. Initial claims are generally denied and the process takes time that you may not have income during. Even after the granting of the claim, it will max out at $1,150 per month. That alone is not enough to live on.

Long Term Disability coverage is sometimes offered by employers. Generally, these policies will pay out about 60% of your salary. It is a good idea to seek supplemental coverage as well. According to the National Association of Underwriters, the cost of your plan will depend on age and health and should cost you about 1 to 3% of your annual income.

If you become seriously disabled it could easily wipe out your nest egg putting your financial future in question. The time to look at policies is before you need one. Give Centennial Insurance Services a call today and get a quote. It could very well mean your future.

239-247-5125 or visit us online at www.cisinsfl.com.

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