Having to deal and live with an acquired disability, or any form of incapacitation (health or medical condition) is something many people never think of, not until it has happened. Most of us live a carefree life, where we are oblivious of emergencies, accidents and life events such as incapacitations that change ones normal life. This mentality has killed many people’s dreams, ambitions and productivity, persons who never thought of indemnity.
What many people haven’t realized is that, the risk of acquiring a disability is five times that of having a fire or flood incident in their workplaces or homes. This is because many have a blind eye on their neighbors who have disabilities, and never care to know how the disability came to be, and how the person was, or is affected in both financial and emotional aspects. All they see is the visible dangers such as fires and car accidents until the worst happens.
What happens if you are involved in an accident, are incapacitated, unable to work, and had no disability insurance? Without this income protection insurance, you would be unable to pay for your basic needs, mortgages and before you notice it, your car and home are gone. What we are trying to put through is that, if you had disability insurance before the accident happened, the bills and mortgages would have been taken care of, and you would have some money to push you through.
Disability is a glaring risk that many don’t see. Most of the employed persons were lucky as they would benefit from their employer’s insurance policy. Well, this was not until the Obamacare insurance which made many employers drop the overall coverage and forcing their employees to take the government insurance. What you don’t know is that, Obamacare doesn’t have a disability cover, meaning you would have to buy the cover from insurance companies yourself.