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How will you handle your bills if you become disabled?

Most people never consider the fact that they could become disabled at some point. It doesn’t matter if you are injured or become ill, if you find yourself in this position there is no denying the fact that your life will be turned upside down. This holds true personally, professionally, and from a financial point of view.

As you evaluate your need for disability insurance, you need to answer this question: Where can you turn for money if you find yourself in this position?

If you don’t have disability insurance, some of your options may include:

— Personal savings and investments.

— Obtaining a loan.

— Relying on the income of a spouse or partner.

— Social Security benefits

— Family, friends, or charity

Since everyone is in a unique situation, only you know where you can turn for financial assistance should you become disabled. For example, you may have enough money in the bank to pay your expenses for a year. But what will you do after that?

You are not required to purchase an individual disability insurance policy, but it is something to consider for a variety of reasons. Most importantly, it gives you income protection in the event that you are unable to work.

Nobody wants to think about a day when they become disabled, but this could happen when you least expect it. In this case, it is good to know that you have income coming in for the time being. You may not be able to work, but at least you have enough money to get by.

Source: State Farm, “Disability Income Goes to Work for You When You Can’t,” accessed June 13, 2016

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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