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Getting started with disability insurance

On Behalf of | Oct 4, 2021 | Personal Injury |

Many people are intimidated by the complexities and emotional hurdles of private disability insurance. It’s imperative that the process of obtaining this type of coverage is demystified for New Jersey workers so they can protect their rights and those of their families.

No financial planning strategy is complete without disability insurance. Sadly, due to the misunderstanding that it’s mired in, it remains grossly underutilized by those who need it most.

What many workers who go uninsured fail to realize is that if they experience a personal injury on the job, their finances will take a hit. When an injury renders an uninsured person incapable of working, there’s limited protection from financial hardship for the individual or their loved ones.

Those who say no to private disability insurance often shun the idea that they’ll ever become disabled or experience a personal injury. Other times, people believe Social Security Disability Insurance or Workers’ Compensation will be enough to cover them.

When is it a disability?

A condition is legally considered a disability when it prevents a person from performing the substantial and material duties of their job. At the same time, the individual must also have lost 20% of their income in comparison to before the disability.

Anyone who feels they are in need of disability benefits has a few options for who to turn to first. In many cases, your workplace benefits office can help you with your claim. A claimant may also choose to file their claim with an insurance carrier directly. From there, information will be gathered from the claimant, their physician, and the employer to verify the disability.

It’s often an intimidating and challenging process to file a disability claim. In some cases, it might not even seem necessary. However, disability insurance is important for anyone to secure their own financial futures and that of their family – no matter what happens.

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