Disability is a lifesaver when you’re injured or ill and unable to work. It helps you handle living expenses while you’re out of work. What it does is temporarily provide financial assistance for your daily living needs.
Losing income can be devastating, especially when you’re not well or are in pain. With disability coverage, you at least don’t have to worry about paying your expenses. In the absence of your paycheck, disability will provide a portion of your regular pay. Statistically, older people are more likely to become disabled or unable to work. People with families are also much more likely to experience financial hardship should they become ill or otherwise unable to work. These people should have access to disability insurance.
Short term insurance offers assistance for a short time. The benefits are available as long as you are certified as being unable to work. However, short term disability depends on the policy offered through your workplace. In other words, the disability benefits at one job might not be the same as the benefits at another job.
You can buy coverage even if it’s not available from your job. Individual coverage is available to those who are self-employed or who don’t have company insurance. Even if you have employer-supplied coverage, you can still obtain independent coverage as well.
This coverage is beneficial because it’s a substitute for your income when you are disabled or injured. As long as you have a valid claim, then disability will help you. Speak with your employer or insurance agent for more information.