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Time to Debunk These Persistent Disability Insurance Myths

Disability insurance myths are pervasive. Disability myths are somewhat dangerous because they may prevent you from protecting your greatest financial asset—your ability to earn a paycheck. When you think of disability insurance, do you think about insurance that covers disability due to a relatively severe accident? Many people do. What about the chance of a disability happening to you? You are a careful person and you have a desk job. No need for disability insurance, right? Well, the preceding scenarios make up two of the larger disability insurance myths. It makes you wonder how many other disability insurance myths you believe.

What are Disability Insurance Riders and Which Are Most Common?

Disability insurance has a base policy. But they also have options that can be added to the standard policy. Optional “add-ons” to the base policy of disability insurance are called disability insurance riders. Riders allow consumers to individualize—to add optional features, which address their specific income protection needs.