Do I Really Need Disability Insurance?

 Let’s talk about – disability insurance Kitchener. Because the longer you ignore it, the more prone you are to the long-term financial risks due to unexpected illnesses and injuries.

Read on the most common questions about disability insurance Kitchener. The answers can help you get started and make the best choice based on your specific needs.

1. If you or others depend on your income — you need  disability insurance Kitchener

If you have people who depend on your income – or if you depend on your income – you need disability insurance. Do you realize that social security disability benefits are not available if you are out of work even for less than a year? One year without income could deplete your savings and have a significant impact on your finances.

2. Disability insurance Kitchener will replace a portion of your income when you can’t go to work.

If you cannot work due to some illness or injury, disability insurance can help to pay your big expenses, including food, utilities, school tuition, home and car payments.

3. Most long gaps are due to illnesses, not accidents.

While many people think that disability is caused by accidents, the majority of long-term absences are actually due to various illnesses.

4. You need disability insurance even if you’re young and healthy.

 

It’s researched, 1 in 4 of today’s 20 year-olds will become disabled before reaching age 67. This is why it’s easier and less expensive to get disability insurance Kitchener when you’re young and healthy.

5. The risk of a disability during your working period is greater than you think.

The risk of suffering a disabling illness could be more likely than you realize. In fact, at least one in four of today’s 20-year-olds can expect to be out of work because of a disability before they reach their retirement age. Disability insurance Kitchener brings income when you can’t work due to illness or injury.

6. It’s a good idea to protect 60-80% of your after-tax income.

You have to meet your essential living expenses if you should become disabled. 72% of our expenses cover essential needs like housing, food, transportation, health care and education. We can help determine what amount of disability insurance is most appropriate for your situation.

7. Some disability insurance Kitchener is better than none at all .

When budgets are tight, it is good to buy enough disability insurance to cover rent or mortgage payments and keep your family secure if you become disabled. Disability insurance is more affordable than you may think. 

8. Get to know how much disability insurance you get at work.

Check to see if disability coverage is made available to you through your employee benefits package. Group benefits alone may not be enough for you due to benefit limitations and types of income covered.

9. No substitute for good advice.

Seek advice on how much insurance is right for you.  Get in touch with delta insurance, they are professionals and help with what works best for you. Taking action to protect you and your family with disability insurance Kitchener is an important part of a strong financial plan.

10. The reputation of the Insurance Company you buy from matters.

When you purchase disability insurance Kitchener, the company you buy from makes a big difference. If you become disabled, there is a chance you will receive benefits for an extended period of time, so better buy from a company like Delta insurance  with experience, financial strength, and a good reputation

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