While you may not feel like you are in danger right now, having disability insurance can truly be a lifesaver.
Many people mistakenly believe that disability insurance only applies to work-related injuries. Although it is crucial if your job involves the risk of serious injury, it can also provide significant support if you experience an injury outside of the workplace. So, even if your work environment is a comfortable office space, having disability insurance can make a significant difference if you are injured off the job and unable to work. While it may not cover minor incidents like paper cuts, if you experience an injury outside of work that renders you unable to work, having this insurance can prevent you from encountering significant financial hardship.
According to the Bureau of Labor Statistics, Musculoskeletal Disorders (MSDs) are the most common cause of worker’s compensation costs, accounting for about 30% of all such expenses in the US. Many of these costs arise from MSDs that occur outside of work and include conditions such as back pain, carpal tunnel, and tendinitis. These conditions can be triggered by various factors like stress, depression, pregnancy, or cancer, and they often manifest suddenly, whether you are working or not.
Even if you believe that disability insurance is unnecessary, it is essential to understand that if you are uninsured when facing these issues, social security benefits may not cover the full extent of your lost income. If you rely on a steady income to sustain yourself or if you are in debt, these conditions can have a devastating impact on your life. This is why it is crucial to prioritize having disability coverage to protect yourself in case of unforeseen circumstances.
