Why Disability Insurance Is So Important: Keeping Your Income and Livelihood Safe
What would happen if you were suddenly unable to earn a living or perform the job that you currently do to support your family?
What would have to change if you suddenly lost 50% of your regular income or more?
Could you maintain the same lifestyle?
Disability insurance is a pretty big deal when it comes to your finances. It's there to help out in case you can't work due to a disability. While we all get the importance of health insurance, disability insurance tends to fly under the radar, even though a disability can seriously mess with your ability to earn a living. Most workplace disability insurance plans only cover 50-60% of your current income and if it's paid for by your employer, it's taxed, leaving you with even less in your pocket.
Let's chat about how things can get affected if you suddenly find yourself dealing with a disability:
Protecting Your Income:
With disability insurance, you'll still get some of your income if you can't work because of a disability.
It comes in handy for covering important stuff like rent, bills, groceries, and such.
Without disability insurance, you might struggle financially and have a hard time making ends meet.
Covering Medical Costs:
Dealing with a disability can lead to more medical expenses for treatments, therapy, and rehab.
Disability insurance helps out with those costs, making sure you get the care you need without wiping out your savings.
It's a relief to know that your medical needs are covered without causing financial stress.
Improving Your Quality of Life:
A disability can cramp your style by limiting your ability to do things you enjoy.
Disability insurance acts as a safety net, letting you focus on getting better and taking care of yourself.
It gives you the freedom to keep some independence and continue doing what makes you happy.
Boosting Your Emotional Well-being:
Coping with a disability is tough emotionally, and money worries only make it worse.
Having disability insurance can ease your mind and take off some of that emotional weight.
It allows you to concentrate on healing emotionally and adjusting to a new normal without the added stress of money problems.
By getting disability insurance, you're not just protecting your income. You're also looking out for your well-being and financial stability when life throws you a curveball. It's a smart move to secure your future and make sure you've got the help you need when times get tough. Remember, your well-being is priceless, and disability insurance can be the safety net that keeps it safe.
If you would like to learn more about disability insurance, please contact Indario Advisory Services at info@indario.com or 317-210-2670.
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