If you are a working professional, know that disability insurance carries a lot of importance for you and your family. Imagine you have a money printing machine that can print up to $60,000 per year for you. Won’t you spend, say, $500 per year to get it insured if it breaks down? Like most people, you will say a big yes to this question. Now, you are that machine. For your family, you work hard and make that money. In other words, we are talking about disability insurance for professionals. Let’s find out why disability insurance is important for you.
Since your income provides for you and your family, you may want to get an insurance policy to protect your future. According to statistics, one out of 6 Canadians suffers from some form of disability that snatches their ability to work for several months. And these numbers are too high to ignore.
Although group insurance does offer limited protection, it may not be enough to meet your needs. According to Jack, a health SEO, disability insurance for professionals saved his business.
Brian, a financial blogger at Luke 1428 describes the importance of disability insurance to protect your source of wealth, which is your income. Some people wonder if they really need a policy. If you carefully review a group insurance policy, you will come to know that you do need disability insurance for professionals. You may need long-term coverage which may not be offered by your employer.
Therefore, if your group plan doesn’t offer sufficient protection, we suggest that apply for individual policies in order to support your group plans. It’s not a good idea to rely on worker’s compensation only.
Given below are some of the suggestions that you should follow if you are thinking about getting disability insurance for professionals.
1. Review your group plan
First of all, you should find out if your existing employer offers group insurance plans. If they do, discuss the plan with your advisor to find out if it can meet your needs.
2. Adopt a healthy lifestyle
If you have an unhealthy lifestyle, you will be more prone to diseases. Therefore, you should recheck your lifestyle and make some healthy changes to it.
3. Berealistic
You should consider the statistics and take the right steps to safeguard your financial future later on.
If you are a working professional, disability insurance for professionals is of paramount importance for you. So, you should take your time and get the best policy to secure your financial future. Instant Disability specializes in all kind of disability insurance and you can contact them today!
The takeaway:
Now that you have debunked some common myths about disability insurance, we suggest that you get a good policy to cover your expenses in case you become disabled. But make sure you read the policy terms and conditions, as each policy is a little different. So, reading the specifics is important.