If you were to be injured while enjoying your Sunday off from work, would your finances allow you to recover in peace? Chances are, a long-term injury or illness would be detrimental to your bank account, unless you have a hefty emergency fund. Disability insurance can provide you with the financial security you deserve. Gathered is a list of some vital information you must know about disability insurance:
- While you may be inclined to think that you are in the clear because the office you work for has worker’s compensation insurance, this coverage will likely not suffice. Most long-term injuries do not occur at work, which would leave you searching for a way to maintain financial stability.
- As a California resident, you are given short-term disability benefits. However, if you endure an injury that takes more than 6 months to heal, you are out of luck for the remaining recovery time.
- If you are one of the many individuals who plan on depending on Social Security benefits for disability coverage, chances are, you will be of the 65% whose applications are denied.
- Many individuals do not realize that some companies provide their employees with disability insurance. Before purchasing disability insurance, make sure that you are not already receiving this coverage from your employer by speaking with the HR Department.
- While you are talking with the HR Department, be sure to ask if they offer supplemental disability insurance through a group benefit program. While they may not pay for this insurance policy, they may offer a discounted policy through their group plan.
- Most importantly, disability insurance is a complex policy that requires careful planning and consideration before purchase. Be sure that you go over all the possible coverage options with one of the experienced insurance agents at Martplan Insurance to make sure you are making the right purchase.
Contact Martplan Insurance in La Habra for all of your California disability insurance needs. We can help safeguard your financial assets with a disability insurance policy.