Friday, May 22, 2020

How a Disability Insurance Policy Can Help You

Christopher C. (Chris) Babcock, MD, DMD, practices at Louisville Oral Surgery and Dental Implants, where he has worked since 2018. In addition to being an oral surgeon, Dr. Christopher C. Babcock is a licensed health insurance and life insurance broker. In his work in the insurance field, Christopher C. Babcock, MD, encourages individuals to get a disability insurance policy.

Disability insurance provides a source of income for people unable to work after an injury or accident. Though many employers offer some form of disability insurance, the coverage is often short-term and may not cover the employee’s full salary.

Research indicates that roughly a third of Americans are likely to experience at least 90 days in which they are disabled in the course of their career, yet nearly 50 percent of workers do not have any coverage in case of an injury. The best time to purchase a disability insurance policy is while you are still young.

If you are young and healthy, qualifying is easier, and premiums are lower. As you age and develop health issues, the price increases. Disability insurance is especially important if you work in a profession in which your risk of injury is high. Not purchasing disability insurance is one of the biggest financial mistakes that workers can make.

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