You want to be prepared for anything that happens in your life, especially when it comes to your job and your security. Many people look at the aspect of workplace accidents and think: “It could never happen to me.” But then, suddenly, they’re left with a workplace injury and very few options to help them. You may have heard certain myths about long-term disability and today we will debunk these myths so that you can learn more about how disability works and whether or not it’s right for you.
“I don’t need long-term disability coverage.” This is one of the most common myths because many people think that they can survive without it until it’s too late. You may be under the impression that protection will be offered to you in other ways, but this is not true, and you could be left with very little in the end. In the case of a workplace injury, for instance, many people believe that they will just rely on workers’ compensation benefits. However, not all of your expenses could be covered in this way, which means that it helps to have this type of disability insurance as a safety net. It is quite simple to assume that you won’t be one of the many people to be disabled; however, consider the statistics: 1 in 4 people in their 20s will become disabled sometime before their retirement, which gives rise to disability.
“An insurer will never pay my claim.” People are sometimes left with the fear that they will become disabled one day, and the insurer won’t pay their claim. Though some disability payments are denied on occasion, most are very cut and dry: You gain a disability, won’t be able to return to work, and will receive long-term disability as long as you need it.
“If I can’t work, I’ll rely on social security.” Many people think that, when it comes to long-term disability, they can go without. Unfortunately, this is not always the case. It is actually quite difficult to receive social security disability insurance – even more so than disability insurance in some cases! In fact, in 2012 alone, only 35% of insurance claims for social disability were accepted. Even if you do qualify, you may not receive what you were hoping for, which could lead to many more issues.
The truth is, it pays to have long-term disability insurance even if you don’t see the benefits right off the bat. You should always be prepared for the future no matter the cost because an accident at work could happen before your very eyes even if you didn’t expect it. You could be entitled to long-term disability benefits for very important matters when you are left without income from your job. We care about your recovery and want to help you in your time of need after you have received a workplace injury. We want to talk to you at Edelstein Martin & Nelson, where we have experience in these claims. Call us as soon as possible at 800-300-0909.