Disability Insurance: Sadly overlooked by many
[author:Lala C. Ballatan Public time:Jul 10, 2007] |
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According to recent reports, one-third of the workers in America are likely to become disabled for extended periods even before they reach the age of retirement. Thus, having a disability insurance is a positive investment for when this time comes, even if we are hoping against it. Mrs. Cindy Wrenn of Knoxville, Md. realized this when she had brain aneurysm and stroke at the age of 28 years old. Upon her disability, she realized that the premiums for disability insurance she and her husband paid for have not just been a drain on their checking accounts.
Los Angeles, California, July 6, 2007 – It was on February, 2002 when Mrs. Wrenn signed up for a long-term policy of disability insurance. It was a supplement to a insurance policy she obtained through her licensed title agent job. Right after her stroke, these policies paid up to 70% of her salary during the next six months before she was fully well to get back to work full time.
The disability insurance actually provides a replacement of the partial income being earned by a disabled person. Consequently, these payments help out for the disabled person's family to avoid dipping into savings, selling a home or changing their lifestyle radically just because of the illness and temporary disability that struck.
There is a large possibility for working people in America to become struck with disability rather than dying prematurely. However, people with life insurances are twice as many than those with disability coverage, according to statistics of the industry.
The Social Security Administration reports that one-third of the workers who are 20 year old presently may become disabled before they reach the retirement age of 67. Since the cause of disability is primarily because of chronic disease. There is also a large possibility of being diagnosed with problems related to muscuskeletal and cardiovascular and cancer rather than becoming victims of work-related and/or non-workplace accidents.
This study was brought about by the Life and Health Insurance Foundation for Education, which is a non-profit organization aiming to inform the public about their need to obtain insurance.
Disability insurance have two major types, the short-term coverage and the long-term insurance. The former are often offered by employers and usually covers the first stages of disability. It may provide income to the disabled from a week up to one year or two, according to the policy.
Expert Los Angeles Attorney and Law Firm - We are very much engaged in handling Personal Injury Cases, Employer-Employee Disputes and Social Security Claims of our clients. Over the years, our law firm has specialized in advocating consumer rights against large insurance companies and defense firms. We have been very successful in reaching very high settlements and verdicts. Visit our website at http://www.expertlosangelesattorney.com
Otherinfo:http://www.expertlosangelesattorney.com
Printed From:http://www.free-press-release.com/news/200707/1184094021.html
Source:Free Press Release
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