In honor of Lupus Awareness Month and MS Awareness Day on May 30, 2012, we want to raise awareness about an issue most people don’t often think about until they get sick and can’t work: disability insurance. A recent Chicago Sun-Times article pointed out that between the ages of 25 and 65, people are four times more likely to become disabled than to die. Many people who become disabled by disease may be unable to work because of symptoms from the disease or side-effects from the treatment. In that case, disability insurance will pay the bills. Financial reporter Terry Savage suggests that employees invest in individual disability coverage over and above what employers may provide. See, “Disability Insurance More Crucial Than You May Think.”
When many think of disability, the image of someone in a wheelchair comes to mind. The irony of that is, with accommodation, many people in wheelchairs are able to work long and productive lives. This may not be so for some people with Lupus or Multiple Sclerosis, as well as Fibromyalgia, Chronic Fatigue, Crohn’s Disease, Parkinson’s disease, HIV/AIDS and even cancer. These diseases are often called invisible disabilities because the sufferer may not look disabled even when he or she is unable to work. And many of those have a hard job convincing their disability insurer they need the benefits they paid for.
Savage stresses there are other reasons why disability insurance isn’t perfect. It will never pay your full salary, and if you are in an extremely high income bracket, it may cap out at $10,000 a month. Still, Savage says, nothing else compares to “paycheck insurance” if you become too ill to work.
We agree, and few things are more rewarding to us than helping people recover their disability benefits after they have been denied. If that has happened to you, call us at (877) 783-8686. We can help.