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Why Its Important to Have Disability Insurance

Disability insurance is a necessity.  Life throws unexpected curve balls.  You can keep your body healthy by eating a nutritious, balances diet and staying active. Most medical conditions are caused by an unexpected illness.  Having disability insurance protects you from the costly medical bills.

According to the Council for Disability Insurance:

Here are some statistics to consider from the Council for Disability Awareness: 

Just over 1 in 4 of today’s 20-year-olds will become disabled before they retire.
Over 37 million Americans are classified as disabled (about 12% of the population). More than 50% of these Americans are in their working years (aged 18-64).
The average healthy 35-year-old female has a 24% chance of becoming disabled for 3 months or longer during her working career; a 38% chance that the disability would last 5 years or longer.
The average disability for a healthy 35-year-old female lasts 82 months (over 6 ½ years).
The average healthy 35-year-old male has very similar statistics as his female counterpart with the only difference being a 21% chance instead of 24% in regards to being disables 3 months or longer.

Why disability insurance?
-Disability insurance protects your family if you do become disabled or sick.
-Disability insurance helps provide security. It pays a monthly income to help protect the family home, savings accounts, retirement funds and other assets should you become disabled.
-Monthly benefits are received tax-free.
-You own the policy and it will stay in place throughout your working years as long as the premiums are paid.

Cosmo Insurance Agency is an independent insurance agency serving surrounding communities in New Jersey. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating the latest in technology-based tools and laws on healthcare, employee benefits, life insurance and finance, we keep our clients up-to-date with the plans that encompass all of their needs, whether it is individual or group insurance.