There is a lot of misinformation out there regarding long-term disability insurance. We’re here to set the record straight on five of the most common myths. And check out how we took down three other long-term disability misconceptions here.
You are well insured. Your house, your cars, your life are all insured. But what if the unspeakable happens? You become disabled and no longer have an income. Disability insurance helps you support yourself and your loved ones by providing income protection. Here are your options.
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.
There is often a false sense of security that comes from the assumption that many, or even most, disabilities would be covered by worker’s comp. In fact, less than five percent of disabling accidents and illnesses are work-related.