Disability Insurance is one of the least thought about but most important types of insurance. Few types of insurance are as important.
Even when compared to life insurance, disability insurance may be more important. Why? If you die prematurely, your family will no longer have to feed you. They won’t have to clothe or house you.
If you become permanently disabled during your working years, not only will the burden of providing for the rest of your family be on someone else’s shoulders, but so will the cost of providing for you. A disability insurance policy can protect you financially.
Many of us get disability coverage from our employers. However, those who work for themselves have to depend on themselves to think about and pay for this coverage.
Only a small percentage of self employed men and women have this important protection. For this reason, disability insurance for self employed people is something that should be talked about a lot more than it is.
Not being able to get a job because of a permanent injury or sickness can hurt you more than not being able to get a job due to a poor economy. Poor economies often become a healthy ones, but our bodies my not rebound from every illness or injury.