Like millions of others, you might report to work daily and sit at a desk. You face few dangers that lurk in other professions, such as a dynamite excavator. But if you think having a desk job makes you safe from disabling injuries, think again.
There are several job injury concerns for those who work at a desk, including carpal tunnel syndrome or eye, back and neck strain. Lower back pain coupled with joint and repetitive strain injuries represent the leading cause of disability claims, according to the Insurance Information Institute. Workers with these types of injuries typically miss 34 to 72 days of work.
Everyone needs disability insurance coverage. Disabling injuries happen every nine seconds to workers on the job. At home, disabling injuries occur every four seconds. Can you protect your family financially if you become disabled and cannot earn an income?
Disability income insurance provides replacement income if you’re unable to work because of an illness or accident. One in five people will become disabled for a year or more before they reach the age of 65. The National Institute on Disability and Rehabilitation Research says most long-term disability occurs due to illness, not on-the-job injuries.
Workers’ compensation covers you only if you get injured, become ill or die because of your job. If your employer offers disability insurance, find out what the policy covers, when benefits become available and how much benefits pay. You may need a supplemental policy to ensure you receive enough money to cover living costs if you become disabled. An individual policy also will cover you if you change jobs.
Many quality insurance companies offer disability income policies which protect people against loss of earnings due to disability. The policies also help pay living expenses in the event of disability.
To qualify for a typical policy, workers must be between the ages of 18 and 60, and be employed for at least 30 hours per week. Maximum monthly benefits are based upon monthly income. Nonsmokers can qualify for discounts.
Most people know insuring their cars, homes and other valuable possessions is important. Disability insurance provides a source of replacement income if you’re unable to work. Your income should be considered one of your most valuable assets.
If you have questions about disability insurance needs, call Your Portland Financial Advisor. Insurance needs change over time. We can complete an insurance and financial review to explore all of your financial security needs.
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