It may be hard to picture yourself as disabled or injured to the point that you can no longer work or earn an income. From childhood we’re taught that everyone works and earns money to pay their bills. Few people think about the “what ifs” like injury or illness that can take away their ability to earn money and pay those bills. Since people don’t think about these “what ifs” they rarely plan for emergencies and find themselves woefully unprepared for any emergency.
Many don’t know that the chances of a permanent injury or illness are five times higher than being a victim in a house fire. While a fire is visible, ofttimes injuries and illnesses aren’t visible and people may suffer for many long years and others may never realize that they’re even suffering. In fact, few recognize such injuries or illnesses unless it’s happened to them, or someone that they love.
Disability insurance can bridge the gap between an injury or illness and the ability to bring in a pay check. If a disability lasts more than a month or so the medical costs may skyrocket and the person may find that they can’t afford to pay the doctors or hospitals that have treated them. After a time, cars are repossessed, homes are foreclosed upon or tenants are evicted from a rental. That is why it is important to protect your income, especially if you are a sole proprietor. They actually offer special disability insurance packages for professionals. For example, here you will find options for physician disability insurance.
It doesn’t have to be this way. A little bit of pre planning can prevent this from happening. However, many have their health insurance through their employers. Sadly, with the creation of Obamacare, a lot of employers have dropped health insurance programs. People are being forced to go into other health care programs and pay higher fees for the same coverages. Those on disabilities are suffering and now, they must buy directly from the insurance companies if they desire this sort of coverage.