Are you the sole earner in your household? If so, you need to have some backup plans in place, just in case you lose your job or are no longer able to work. When you started your family or bought the home that you envisioned your children growing up in, you probably purchased a life insurance plan. This will help your loved ones keep a roof over their heads if you should meet an untimely young death.
But what happens if that accident leaves you alive but disabled and unable to work? This is when an often-overlooked type of insurance policy becomes useful: disability insurance. Wondering why these policies are so important? Let’s explore the options they provide.
You Could Become Disabled at Any Time
As the saying goes, “everyone is a car accident away from becoming disabled.” What happens when you’re the “everyone” that they’re talking about? You could end up being unable to work, and then what will your family do? Your spouse might not be able to support the household, take care of you, and keep an eye on the kids all at the same time. As a result, your family could end up not being able to pay all of its bills. This is where a disability insurance policy comes in handy, as it could help make ends meet.
What About Your Medical Care?
One of the main things that people fail to consider is that there are limitations on what health insurance will cover. For example, if you end up needing 24-hour nursing care, odds are, your family will end up paying for some of them out of pocket. There are also potential treatments, special equipment, and other things that your insurance may not pay for as they deemed it “not medically necessary.” Again, having a disability insurance policy can provide you with the needed funds for these additional expenses.
Filling in for Lost Wages
Usually, becoming disabled means getting government disability payments. The problem with this is that those funds are often not enough to cover all of your bills. Plus, it could take time to get approved and have the money appear in your account. A disability insurance plan can help fill those gaps and pay for things like your mortgage, medical bills, and more, before your official disability payments come in.
Giving Your Family Peace of Mind
The most important thing that you can give your family is peace of mind. Just as a life insurance policy can help them should you die an untimely death, a disability policy can provide the same financial cushion if you end up not being able to work anymore. These insurance policies can give them one less thing to worry about if something unfortunate happens to you.
Do You Need a Disability Insurance policy?
Want to learn more about disability insurance? Contact Spivey Insurance today. Our knowledgeable and helpful agents can answer any questions that you may have, as well as help you choose the best policy for your family’s needs.
