May 20, 2019
The Concklin Blog

Do you have a plan for the unexpected?
It is estimated that nearly 4% of workers will experience short term disability lasting up to 2.5 months, and 2% of workers will experience a disability that will hamper their ability to work for 6 to 12 months every year. These may not seem like high numbers, but the reality is over 1,700,000 working age Americans have already experienced a disabling illness or injury in 20191. Plus, the average long-term disability lasts over 30 months and accounts for over half of personal bankruptcies and mortgage foreclosures 2. Yet it is a risk many people ignore.


It’s time for a Reality Check Up
Most disabilities are not caused by work related accidents and therefore are not covered by Worker’s Compensation. Musculoskeletal injuries, or long-term illnesses including cancer and heart disease are responsible for most long-term absences from work. Practicing safe lifting techniques, eating a clean diet and exercising regularly can reduce your changes of disability, but there is no guaranteed prevention.


Disability Insurance is not the same as health insurance.
Health insurance helps cover your medical expenses, while disability insurance replaces a portion of your income when you are unable to work due to a disability. Imagine hurting your back and not being able to get out of bed for a month. Your health insurance has helped to pay for your doctor visits and treatments, but you’ve run out of sick days at work. You still need to pay your mortgage, utility bills, and car payments. Do you have enough savings to cover your expenses? What if your recovery takes 2 months, or 3 months? What if you are no longer physically able to do your job for years to come? It can be a little overwhelming to wrap your mind around the prospect of disability.


Talking to your Trusted Insurance Advisor can be a great benefit to understanding your risk, and what you can do to prepare for the unexpected.


1https://disabilitycanhappen.org/
22005 Harvard Study