Title: 5 times short-term disability insurance makes sense | Haven Life
Headings: 5 times short-term disability insurance makes sense
5 times short-term disability insurance makes sense
Short-term versus long-term disability insurance
Warning...
Disability statistics
Who should consider short-term disability insurance?
Your state and employer do not provide short-term disability insurance
Why life insurance
Self-employed people
You want gap coverage
Your savings account is low (or you don’t want to dip in)
Your family depends on you
Is short-term disability insurance worth it?
Why life insurance
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Disability statistics
Insurance is all about managing risk, right? The first step to understanding short-term disability insurance is to understand what kind of risk we are talking about. According to the Social Security Administration, if you are in your 20s, chances are more than 1-in-4 that you will experience a disability that keeps you out of work for a period of time before you retire. Despite those rather high odds, LIMRA reports that only 20% of people carry short-term or long-term disability coverage. The top causes of disability are not serious accidents as some people think. They are more often ongoing conditions such as back or muscle pain. Pregnancy is also a short-term disability. Another disability misconception is that only people with very dangerous jobs, such as loggers or commercial fishermen, need to worry about becoming disabled. Nope. Even a desk jockey has a risk of disability.