| Disability can occur at any time. While many people | | | | whether or not its something you wish to provide for |
| take their body and health for granted, serious accident | | | | yourself. |
| or injury can happen to anyone and if you find yourself | | | | Long Term Disability |
| disable, for a short period or long term, how will you | | | | The second common protection against this type of |
| cope? | | | | risk is social security and disability benefits. This usually |
| Disability insurance is a sub set of health insurance that | | | | only covers employees whose disability lasts for a |
| will provide the holder with income should they become | | | | period of 12 months or more. It also must be shown to |
| disabled and thus unable to continue earning a living. If | | | | be so severe that you cannot find gainful employment. |
| this were to happen to you, do you know what you or | | | | Therefore there are some gaps here that you may be |
| your family would do for income? | | | | more comfortable providing for with private insurance. |
| If you are aged 40, there is a higher chance that you | | | | Individual Policies |
| will be disabled, and thus unable to work for a period | | | | The third method of dealing with this risk is with an |
| of 90 days or more, than of you dying before the age | | | | individual disability insurance policy. This means taking |
| of 65. There are three common ways of insuring | | | | out a private insurance policy yourself. You should |
| against this risk. | | | | shop around to make sure you get the best deal |
| Employer's Insurance | | | | available, but at least you will have the peace of mind |
| The first is to receive insurance from your employer. | | | | of knowing in what circumstances you are covered |
| This is required by law in many states. It comes as a | | | | and what the terms of the policy cover. |
| form of short or long term paid sick leave. Larger | | | | There are some other sources of protection. |
| employers can have even more generous terms. For | | | | Workman's compensation policies will sometimes step |
| example, a common policy might offer you 60% of | | | | in to cover you if the injury occurred at work. Auto |
| your salary for five years, or maybe even all the way | | | | insurance may provide coverage if the injury occurred |
| up to retirement. While not everyone is lucky enough | | | | in a car accident and the Department of Veteran's |
| to work for such a company, it is worth checking with | | | | affairs can advise you if you think the disability is |
| your employer to find out what your protection is and | | | | related to service in the armed forces. |