How Permanent Disability Insurance can Sustain Your Life

What is a Permanent Disability? 

Most workers misjudge the need for Permanent Disability Insurance. A permanent disability is the result of either an illness or injury that prevents a worker from being able to perform a suitable or customary job. Characteristically, a permanent disability is one that stays with a person for a lifetime. With permanent disabilities, recovery is unlikely and their duration are indefinite. For example, the loss of eyes or extremities (e.g. legs and arms) would be within the definition of a permanent disability. 

Recent insurance industry studies indicate that the average worker has a 27-31 percent possibility of being disabled for a period of 90 days or greater. The need for permanent disability insurance becomes even greater when you consider that studies also demonstrate that the length of disabilities are increasing. For a worker in today’s economy proper planning requires permanent disability insurance to sustain their life in the event of a disability. 

Tips When Considering Permanent Disability Insurance

  • Locate a trustworthy insurance agent.
  • Purchase the maximum coverage that you are capable of affording.
  • Determine the costs of your lifestyle, for example, what do is the cost for your mortgage, automobiles, and foreseeable future medical expenses.
  • Determine what you would receive from existing sources and governmental resources.
In considering permanent disability insurance, the coverage from your employer alone may not be sufficient. Most plans are fairly inexpensive and may not provide enough income to meet the needs of your lifestyle.  

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