Why disability insurance is a necessity for physicians and professionals

Insurance clients often ask whether they have too little, too much, or the right kind of life insurance, but they often don’t consider how they would get by financially with no income due to a long-term or short-term disability. In fact, disability insurance is as important as life insurance, and in some cases, even more important.

At any given age during your career, the odds of you becoming disabled are much higher than the odds of you dying. Each year, a little over 10% of the U.S. adult population suffers a long-term disability. One out of every seven workers will suffer a five-year or longer period of disability before age 65.

If people had savings in place that could be used in the event of a disability the situation would not be so bad, but that’s rarely the case. Many working adults would be able to meet their expenses if they couldn’t work for  six months to a year. Bankruptcy often happens in these unfortunate circumstances.

Today, fewer employers offer disability insurance than life insurance, and it’s typically harder to qualify for disability coverage than it is for life insurance. When you apply for disability insurance, the insurance company will tell you if you have too much money to qualify for coverage. That’s because, unlike life insurance, you can’t buy all the disability insurance you may need.

Call Jeff Pennington today at 1-877-221-6198 and let him help you make the best choice for your disability insurance policy. It helps to have an expert on your side to get the best rates and policy available from the right insurance provider.


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