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You are not too young to purchase disability insurance

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Many of our California readers understand the benefits of buying disability insurance. This is particularly true among those who are older, such as when closing in on retirement age and realizing that they could be disabled at some point later in life.

Then there are those who are younger, such as individuals in their twenties and thirties. They believe that nothing bad could ever happen to them and for this reason, they overlook the benefits of buying a disability insurance policy.

No matter who you are, you could find it difficult to make ends meet should you become injured or too ill to work. At that point, being able to make a disability insurance claim would make your life much easier.

These are many types of disability insurance, including the type you purchase on your own as well as a group policy through your employer. Either way, the end result is the same: you have coverage that will pay out money should you be unable to work due to a disability.

Since disability insurance is not talked about nearly as much as other types, it is often overlooked, especially by the younger generation. A study by LearnVest shows that only 35 percent of people between the ages of 21 and 40 have this type of policy.

When you purchase disability insurance, you are protecting against something bad that could happen in the future, making it difficult for you to earn money. Even with a policy, however, an insurance company could step in and attempt to deny a claim, thus making it difficult for you to collect. At that point, you will need to file an appeal.

Source:  Fox Business, "Too Young for Disability Insurance? Yeah, Right" Crissinda Ponder, Jul. 30, 2014

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