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What You Should Know About Disability Insurance

What would you do if you could no longer earn a steady paycheck?


Every year, thousands of working Americans experience a short-term disability, which can include physical conditions as well as mental health issues.


Don’t leave your financial future vulnerable to a crisis. Here’s what you need to know about disability insurance.


What is disability insurance?

Disability insurance is a type of policy that protects your ability to work and make money. Whether you experience an illness, injury or other condition that prevents you from working, disability insurance replaces a certain percentage of your income. You can use your disability insurance benefits however you need to, from paying bills to buying food and other necessities.


What are the benefits of disability insurance?

Disability insurance covers a range of conditions, including illnesses, chronic pain and mental health issues. Many people will experience a “disabling event” during their working lives. The primary benefit of disability insurance is that it helps avoid a financial crisis.

Whether you’re self-employed or work for a company, getting your own short-term or long-term disability insurance means you don’t have to worry about losing coverage if you lose your job.


What are the options?

There are two primary types of disability insurance:

  • Short-Term: This type of coverage is meant to cover workers for a short period of time and is typically a more affordable option.

  • Long-Term: This coverage typically covers a disability lasting several months or longer. These policies may require a more significant waiting period before they go into effect.

If you have a mortgage, a family to provide for, or other financial obligations, losing your ability to work could cause substantial financial strain. Disability insurance helps you stay afloat financially when the unexpected happens.


Do you have questions?

Need help evaluating your disability insurance needs? Reach out to discuss your coverage options.


Sincerely,

Barb Scott

(815)230-9516

bscott@myhst.com

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