Why You Need Disability Insurance

​Many people try to think ahead and plan for the future by setting up a solid financial plan, which is a wise thing to do. They usually establish a savings account for retirement, maybe grow a 401k plan if feasible, and sign up for a few life insurance policies that would serve as sufficient safeguards for their families in the event that they pass away and leave the family without a breadwinner.

However, even though these are all solid, commendable plans, it sometimes happens that one more significant step gets ignored or overlooked – planning for disability. What happens if you get disabled and cannot work anymore? If you are the major provider of your household, this is one thing that you need to take care of as soon as possible. If you haven’t signed up for disability insurance yet or are doubtful if you really need it, then this article is for you.

What Is Disability Insurance?
You need to understand that your ability to earn an income is one of your best financial assets. If you lose this capability, you also stand to lose other aspects of any financial planning you have started. Any insurance coverage you may have signed up for would be in jeopardy, and if you have outstanding mortgages or loans, then you and your family would be at risk to lose your home and any property you own.

Disability insurance can be an invaluable lifesaver in such situations. Employees and workers who have disability insurance will be able to enjoy a source of income in the event that they cannot continue to work anymore, either due to illness or an accident.

Who Needs Disability Insurance?
Simply put, if you work for a living, if you have people depending on your livelihood, and if you are not financially prepared to go without an income even for just several months, then you need to get disability insurance. Here’s an important thought: if you think you don’t need disability insurance just because you don’t have a job where you’re in physical danger, you are wrong.

A lot of people who forego getting disability insurance say they don’t get it because they don’t have a dangerous job. They fail to consider that around 90% of disabilities happen due to illness, not accidents. Therefore, even those who work in white-collar jobs stand to benefit from disability insurance. Yes, even doctors, lawyers, and accountants.

Disability insurance is a critical aspect of any financial planning and should never be overlooked. Protect yourself and your family, and secure your financial future as soon as you can.

At AmeriFed Insurance & Financial Services, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (813) 848-9787. Get your free quote today by CLICKING HERE.