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Ignoring disability insurance is a mistake

Our California readers, as well as those in other parts of the country, must realize at an early age that purchasing disability insurance would be in their best interest. This is a numbers game to a certain degree, meaning that consumers must consider the likelihood that they will become disabled at some point in the future.

While some people, especially those in the younger generation, believe nothing bad could ever happen to them, others have come to the realization that it is better to be safe than sorry. A 35-year-old man, for example, is 3.5 times more likely to face a disability than to pass on. For this reason, disability insurance is every bit as important as life insurance.

In the event that your employer offers or provides disability coverage, you should become familiar with when it becomes active, how much it will cost you, if anything, and how much of your income it will cover.

In the event that your employer does not provide group coverage, it is your responsibility to shop for an individual disability insurance policy. The same rules apply when comparing coverage and making a decision.

Ignoring disability insurance may sound like a way to save money now, but it is also a big risk. In the event that you are disabled, your coverage will kick in to ensure that you have enough money to live. If you have a policy and your insurer is not paying your benefit for any reason, it is time to review the coverage details and consider your options for receiving payment.

Source:  Indy Star, “Pete the Planner: Don’t ignore disability insurance” Peter Dunn, Aug. 03, 2014

DarrasLaw is Americas' most honored and decorated disability litigation firm in the country. Mr. Darras has seen more, evaluated more, litigated more, and resolved more individual and group long term disability and long-term care cases than any other lawyer in the United States.

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