11/30/2016 Disability Insurance: What You Need to Know

Alli Walsh, Social Media Strategist

Disability Insurance: What You Need to Know

There’s no denying the statistics: one in four of today’s 20-year-old adults will become disabled before they retire and 37 million Americans are classified as disabled, according to the Centers for Disease Control1. These disabilities may be short in nature—less than six months—or long term. Regardless, for the average American employee, six months or more without a paycheck is a big challenge. That’s where disability coverage comes in to help you and your family cope until you’re recovered and back to work.

Here’s what you need to know to determine whether disability coverage is right for you:

Are you at risk?

This is a great question and everyone is different. Many factors determine your risk, like certain health conditions, whether you maintain a healthy weight and the type of activities in which you engage. For a better idea of your risk, calculate your Personal Disability Quotient using the calculator provided by the Council for Disability Awareness. 

How can a disability affect your livelihood?

Medical bills, even for short-term disabilities, can be overwhelming, causing people to experience increasing and oftentimes, extreme debt accumulation. In 2013, 1.7 million households experienced health-related issues that led to eventual bankruptcy.2  Disability insurance does not replace your entire income, but it can ease the burden and provide a buffer until you’re back on your feet. 

What about worker’s compensation?

Disabilities covered by disability insurance are not only those that are incurred on the job. It may cover many types of illnesses, accidents and injuries, depending on policy specifics. And while an on-the-job disability may be covered by worker’s compensation, only 5 percent of disabilities are work-related.3

Should I get coverage on my own, or through my employer?

Typically, policies offered through your employer are your best economic bet as they often cost less than individual polices. However, not all employers sponsor coverage—only a third of industry workers have access.4 Before you go out on your own, ask your employer if disability coverage is an option through your benefits package. If not, talk to an insurance professional about options, paying close attention to details like when coverage begins, how long it lasts, and exactly what benefits you’ll receive.

Chances are many of us will experience an illness or injury that requires time away from work in our lifetimes. Disability insurance helps protect quality of life during recovery so we can focus on healing, not on mounting expenses. Interested in learning more about the supplemental coverage Combined provides? Visit our website today.



1 http://www.disabilitycanhappen.org/chances_disability/disability_stats.asp.


2 https://www.nerdwallet.com/blog/health/medical-bankruptcy/.

3, 4 http://www.forbes.com/sites/ashleaebeling/2013/09/24/5-myths-about-disability-insurance/#1779af772f61.

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