You have worked hard to create a wonderful life for your family. However, one accident or illness can quickly undo all of the hard work that it has taken to create a sense of financial security. When you have utility bills, mortgages, and car payments that are dependent on your income and your income is no longer available, you can quickly fall into a deep financial pit. Even though in a year or two you may be back on your feet, the financial repercussions of your illness may be felt for four or five years.
While many people understand how crucial life insurance is, they may be unclear about the importance of long term disability insurance. Long term disability gives you a fall back plan in case you are injured, ill, or otherwise debilitated for a longer period of time. Depending on your plan, your long term disability insurance could pay up to 60 percent of your normal paycheck. Short term disability can be activated in as little as 2 weeks after you become disabled. Although long term disability can take up to 90 days to kick in, in some cases it will continue paying you a portion of your income for years.
For more information about long term disability insurance or other insurance needs, contact Sackett & Associates Insurance Services located in Sonoma County.