The 5 Biggest Myths About Disability
Which of these do you believe?
Myth #1: “I don’t expect to become disabled in the near future, or ever. It’s not a major—or even a minor—concern of mine.” Fact: As indicated earlier, disabilities are more common than most people think. And the majority are due to illnesses, not accidents.
Myth #2: “Disability Insurance is too expensive for me. I won’t be able to pay the premiums every month.”
Fact: When you obtain individual Disability Insurance via an independent agent, you’ll enjoy the best coverage for you at the lowest possible cost. There are currently new short term disability plans that are more affordable than ever before.
Myth #3: “Federal or state programs will pay me disability benefits. I pay all my taxes so I’m entitled to receive them.” Fact: The requirements for Social Security Disability Insurance (SSDI) benefits are very strict, and you may not be eligible. And/or you may not be eligible for workers’ compensation. Besides, there’s a limit as to how much you can receive each month, no matter how much you’re earning right now.
Myth #4: “If I ever decide to get Disability Insurance, I can always get a policy later on.” Fact: Not so. Later on you may not be eligible due to your age, health condition, occupation, or for some other reason. Also, the older you get, the higher your premiums will be.
Myth #5: “If I’m disabled and my income stops, I’ll live on my savings.” Fact: Unless you’re quite wealthy, sooner or later your savings will run out. Then, if you’re still disabled and unable to earn a decent living, what will you do for income? Don’t risk it. Protect yourself and your family by having an individual Disability Insurance policy!, even a short term one.