Disability insurance can be a little confusing for many people. However, if you were to suffer an injury or something went wrong that would keep you from work, you may need it, especially if you’re an independent contractor or freelance employee who doesn’t have regular benefits. Use this guide to learn the top five things you need to know about disability insurance.
- Worker’s compensation isn’t something you can get if you’re not a full-time employee with benefits in many states. That means that getting hurt could cost you your check after your sick days run out.
- Worker’s compensation won’t pay all of the bills even if you are eligible for it. Many people only get about two-thirds of their salary.
- Work isn’t the only cause of disability. If you get into a car accident for example, work won’t cover that if you did it on personal time.
- Social Security disability benefits aren’t for everybody. Stats say about 65% of people who apply are denied.
- Benefit levels and periods vary. Always check how long and how much disability insurance will cover before picking any particular policy.
Contact Durkin Agency to learn more about disability insurance.