Insurance at the Lake of the Ozarks is used to protect a variety of things, from your car and house to your health and life. Many people forget to insure their most important asset though, the ability to work and earn a living. You never know when tragedy will strike, leaving you unable to work and provide for yourself and your family. Let's take at some reasons you should consider disability insurance for yourself:
Reasons to Get Disability Insurance
Disability insurance is used to protect against loss of earnings due to not being able to work. There are two types, short-term and long-term. Short-term provides payments if you are out of work for an extended period of time due to illness or injury. Long-term disability provides payments if you are permanently unable to return to work. Here are a few situations where disability insurance could come in handy:
1. Debt Obligations - Do you have a mortgage payment, car payment, student loan payments? What would happen if you temporarily lost your income? One of the biggest concerns for most people is making their mortgage payment, sometimes it's hard to do even with a steady income. Disability insurance may be the only thing keeping you from losing your house if you are unable to work and make an income.
3. Predisposed Condition - If you have a family member that became disabled due to a stroke, arthritis, etc., the condition may have been transferred to you genetically. In this case, you have a greater risk of becoming disabled and should consider disability insurance. While you're insurance may be slightly higher in this case, think about the consequences of not having it.
4. Dangerous Profession - While everyone has some risk of becoming disabled, some professions are more dangerous than others. Those people in riskier professions should consider short-term disability insurance, as they face a much higher incidence of disability. These types of professions include manufacturing jobs, constructions jobs, etc.
Disability Risk Statistics
Take a look at these statistics showing how great your risk of becoming disabled actually is in a given year:
- 1 in every 88 homes catch fire
- 1 in every 70 vehicles get in a serious accident
- 1 in every 106 people die
- 1 in every 8 people become disabled
Think about how your life would be affected if you became disabled tomorrow. Which of the above situations could apply to you? Seeking out some form of disability insurance to protect yourself might make sense. Contact your Lake of the Ozarks insurance agent at 573-348-2794 today for more information. Insure the Lake is here to help with all your insurance needs!
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About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.
Steve Naught, CIC
3736 Osage Beach Parkway
Osage Beach, MO 65065
Next to Golden Coral