Don’t Forget Disability Insurance

Everybody knows that auto, health and life insurance are important expenses that are very valuable in the long run. However, disability insurance remains something that many people forget about – but this could be a dangerous mistake. 

According a recent report on, many young people forego purchasing disability insurance; however, statistics show that young people in their 20s are 30% likely to obtain a life-altering injury that could prevent them from working. 

It is this type of situation that warrants disability insurance, as it covers individuals who have suffered an injury that prevents them from undertaking gainful employment. Unfortunately, a third of all young adults have opted not to purchase disability. In the long run, this could be a costly mistake. 

If you are currently employed, there are two options for you. Social Security Disability Insurance offers disability insurance but has stringent restrictions on what qualifies. Employers also offer insurance plans that include disability coverage. If you suffer an injury outside of the workplace, you may not qualify for coverage from Social Security or your employer. So, it may be a good idea to purchase disability insurance privately, including it as part of your personal healthcare plan.