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Ouch, That’s Gotta Hurt

January 22, 2013  |   Posted by :   |   General   |   0 Comment»

By Michael Grace

We all know about health insurance because we worry for our well-being. Many of us have had to miss out on work or school before because of illness or health-related problems. Have you ever thought about not being able to bring home a paycheck or complete your education because of your health issues? Millions of Americans collect government benefits because they were like you, in perfect condition, until one day everything changed. They got in an accident. Their insurance didn’t cover an unforeseen disability, worker’s compensation ran out, and they were left, unable to return to their jobs and without an income. Scary, huh?

A woman called me the other day, looking for financial help. She was running late and slipped as she ran to her car. This accident changed her life forever. She was left with chronic back pain and can’t sit for long periods of time, which means she can no longer perform her job functions. She can’t walk  distances or stand for more than half-an-hour, which limits new job possibilities. Unable to continue her job or find a new one, she now faces depression. (No, worker’s compensation didn’t cover the accident since she was neither at work nor using company property).

In contrast, a friend of mine who has disability insurance, was able to continue to pay his bills and go out with friends after receiving a serious diagnosis that forced him to withdraw from his job.

It is important to have disability insurance. A lot of people are unfamiliar with this concept. Disability insurance replaces a about 50-70 percent of your income if you are no longer able to work due to a sickness or injury. No one likes to miss out on doing their job because they are physically incapable of working.

Are you thinking that you already have insurance for a lot of other things like you car, home, and other property, so why do you need to add this one too, especially if you have spent your whole life without suffering any serious health problems? You also don’t have any plans to skydive or participate in dangerous activities so you feel the chances of getting injured are slim at best. Like the example above, accidents can occur doing the most mundane things, and even if an accident isn’t your fault, you need to be covered – especially if the other party doesn’t carry adequate insurance.

A lot of times it goes back to the old saying “better safe than sorry”. People who find they need this kind of insurance often realize it when it’s too late. Buying it when there are no related issues concerning your body is much cheaper than after the damage has already occurred. You may be deemed uninsurable if you sign up too late.  Paying your bills plus healthcare costs could drive you into serious debt, or even bankruptcy if you don’t have enough supplemental income.

At Orlando Insurance Store, we specialize in long-term and short-term disability insurance and will help you figure out which one is right for you and your family. We will make sure you can sleep easy knowing you and your family will be in good hands if something happens to you.