#schoolofpersonalfinance #disabilityinsurance #personalfinance #moneybasics #financialfreedom
In this video, you will learn everything you need to know about disability insurance.We discuss short term disability insurance, long term disability insurance along with group disability and individual disability policies.
Disability insurance is a policy that pays a percentage of your income if you can no longer work due to an injury or illness. It is probably the most overlooked type of insurance, yet it is arguably the most important.
When people think of a disability they imagine the worst. A freak accident or some other uncommon occurrence, but the reality is people miss work for many different causes like back pain, mental illness, diabetes, arthritis and heart disease.
According to the 2017 Disability Statistics Annual Report over 10% of the population between ages 18-64 have a disability. I can not think of anything worse than going from being the family breadwinner to becoming the family financial burden in the blink of an eye. If you were laid up not able to work for multiple years how long would you be able to go without a paycheck coming in?
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