An extremely important form of business insurance, disability insurance protects an individual’s future earnings. Disability insurance seeks to replace one’s income and provide benefits in the event that person becomes physically unable to work. Disability insurance is also known as “Accident and Health Protection,” or “Accident and Sickness Protection,” and is a type of business insurance that should be sought by workers of all types.
You may wonder why disability insurance is so highly recommended, when most people are covered with health and/or medical insurance that will help them take care of the costs associated with debilitating injury or illness. However, without disability insurance, people are not prepared for the loss of income that accompanies the injury or illness that prevents them from being able to work.
Disability insurance should be sought by any individual who relies solely on income from their job to cover important bills such as the mortgage, rent, and food.