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Think You Will Never Need Disability Insurance? | Centennial Insurance

Dec, 06

If you are young and healthy chances are you have never given a single thought to disability insurance.

The assumption is that you will always feel as well as you do now and be able-bodied, able to work and fully support yourself and the lifestyle to which you have become accustomed.

That would be ideal if it rang true for everyone, unfortunately, we are not all so fortunate as we age and manage our way through this life. Unexpected accidents and illnesses occur, often out of the blue and in an instant, your whole world can change.

At those moments is when we scramble, looking around to see if we have any safeguards in place to help us. The sad truth is that in 2018 the majority of American’s do not. We, as a generalization, live paycheck to paycheck. If that paycheck source suddenly is cut off, then what?

Are you really willing to risk everything you have worked so hard to build? Your home, your car, your livelihood, your stability on the bet that you will always be able to make it to work and bring home the bacon?

According to the American Community Survey in 2017 in Florida, 12.8% of the state population, or approximately 2,371,700 people have some form of disability that prevents them from working. State disability benefits are based on your social security. Social security benefits are based on past income. By drawing on it early in life you are depleting your only government held retirement source. Additionally, you do not automatically get disability benefits even if you are legitimately disabled. There is a legal series of steps, paperwork, and court hearings before any check is issued. That can leave you scrambling until the case is decided. Making things worse, the majority of cases are denied on first hearing and must go to appeals.

The far better option is to take out disability insurance yourself and be proactive in your future income should the worst happen. Private disability insurance is taken out through a policy by an agent. Claims must be backed up by medical evidence.

Disability policies are issued in both short and long-term. Short term usually maxes out at 6 months where long term can be in effect for the life of the individual. Your employer may offer a disability benefit so be sure to check with your human resources department before taking one out privately.

Please contact our office here at Centennial Insurance Services of Fort Myers, FL to discuss the particulars of your policy inclusion needs. We are happy to customize any insurance policy to fit your life and situation.

Now serving all of Southwest Florida! Cape Coral insurance, Bonita Springs insurance, Naples Insurance, Estero Insurance, Lehigh Acres Insurance, North Fort Myers Insurance, and even Marco Island Insurance. We look forward to crafting a policy to keep you protected. www.cisinsfl.com 1-239-247-5125