In life, you never know exactly when an eventuality will come up and cause havoc in your life. These often come unannounced and force people to change their lifestyles and probably stop work.
Once they occur, these events normally inflict a responsibility on one?s family. It ends up costing them money and time commitments. This justifies the need to have a precaution of some sort that will break the fall in case the worst knocks your door.
One genuine solution you can have is to take disability insurance. The disability insurance will help each individual company have a way out in case. That means that they will be able to give you even 60% of your usual salary in case you are not working.
This is just a snapshot of the sort of benefits you stand to gain from disability insurance:
The cover is Tax Deductible: All those premiums that you have been paying monthly will be treated as business expenses hence you are allowed to deduct them from your tax payments. Your employer stands to gain if he is the one paying these premiums for you. They can subtract an equal figure from the tax he is supposed to be paying.
Insurance provides Rehabilitation. This is one generous benefit which will provide an avenue for your training to learn new skills if you can no longer work in your previous career due to injury. That way, you do not become over dependent on others as you feed yourself.
It is refundable: People never see the sense of paying the premiums if there is a likelihood of them going through their employment life without ever claiming anything. One can simply ask for a refund.
To show you the likelihood of this cover being important, just know that the National Safety Council reports one disabling injury per second.
Access additional works by this very author about areas such as long term disability insurance quote and long term disability insurance.
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