If you were not able to work for a few months or became disabled could you afford your living expenses? Most people do not have enough savings to support themselves beyond a month or two, if at all. Studies have shown most people are not prepared to protect their lifestyle and finances in case of a debilitating injury:


  • As few as 55-percent of workers have enough savings to replace a month of lost income, according to a 2015 study by the Pew Charitable Trusts.
  • A little over 1 in 4 of today's 20-year-olds will become disabled before they retire according to the Social Security Fact Sheet from June 2016.
  • Almost 70-percent of Americans don't have disability insurance, according to Northwestern Mutual's 2016 Planning & Progress Study.
  • Also, one in eight workers can expect to be disabled for five years or more before retirement, a figure that's been fairly steady for the past few years, according to Northwestern Mutual's 2016 Planning & Progress Study.


Protecting your lifestyle may mean it’s time to consider a short term disability insurance plan. Short-term disability insurance can help by paying a percentage of your salary in the event you become temporarily disabled or are not able to work for a short period of time due to illness or injury. This does not include on-the-job injuries, which are covered by workers compensation insurance. A typical short-term disability insurance policy provides you with a percentage of your pre-disability base salary to cover expenses like rent, car payments or your mortgage.

Finding the right insurance to match your finances, lifestyle, and personal situation can be a difficult task because there are so many different factors to consider. At Thomas M Miroballi Sales LTD we strive to make the process of choosing the right insurance as smooth and easy as possible. We offer several personal and business disability insurance products for professionals, business owners and/or employees.


To learn how I can better help you find the plan that's right for you, click here to learn more about my services or call 630-863-3477 today.

References:

https://www.statefarm.com/insurance/disability/short-term-disability

https://www.metlife.com/insurance/disability-insurance/short-term/

https://www.anthem.com/press/california/short-term-and-long-term-disability-benefits-now-available-from-anthem-blue-cross-for-small-businesses