In the time it takes you to read this sentence, someone will suffer a disabling injury.
Maybe more than one person. The stats are what they are:
The question is: What if it happened to you?
Of course it won’t, you know. It never does happen… but… what if it did? What would you do?
Not all of these injuries result in permanent disabilities, of course. But they can certainly disrupt life and your income for weeks or months (or longer). Some disabilities don’t stem from injuries at all – they result from serious illnesses that cause you to miss a lot of work.
We can help you be prepared just in case – that’s the whole point of insurance anyway. Some solutions are better than others, and some cost more than others. So let’s take a look at a couple solutions worth considering:
3 Solutions Just in Case Disability Happens
1. Long-term Disability Insurance. Thank you, Captain Obvious.
Seriously, though, this is the best and most thorough way you can prepare you and your family for a disabling injury or illness. A disability insurance policy will provide a percentage of your income if you are unable to work for some time (specified in the policy – there are options).
In all honesty, individual disability insurance can be expensive. But it can also save your bacon (or your mortgage!).
(Hint: If you own a small business, you’ll find the group disability rates to be a more affordable option).
If you just can’t afford long-term disability, then consider the next two solutions…
2. Accident Insurance. An accident insurance plan will pay you a lump sum if you’re injured as a result of an accident. At the very least this will help you meet your health insurance deductible and out-of-pocket costs. Some plans could pay you a predetermined lump sum even if the cost of treatment is less.
3. Critical Illness Insurance. A critical illness insurance plan functions similarly to a term life insurance plan.
If you are diagnosed with invasive cancer or have certain other medical problems come up (heart attack, stroke, a few others), you’ll get paid the policy amount, which can be anywhere from $5,000 – $50,000.
If you wind up having to miss a lot of work (and income) due to this kind of medical problem, that money can make a huge difference for you and your family at a time you really don’t need financial stress.
What’s the Next Step?
You can click the links to each type of coverage to learn more and find a quote.
Or if you have questions or want to talk more about it, you’re always welcome to contact us.