What is North Carolina Disability insurance?
North Carolina Disability Insurance is commonly referred to as income protection insurance. If we told you that your most valuable asset wasn’t your home, your car, or your beach house – you might call us crazy. But we're here to tell you that your greatest asset is your ability to earn a lifetime of income that will finance you and your families chosen lifestyle. Unfortunately an accident or serious illness that leaves you disabled can rob you of your work, your income and your financial stability. This is where North Carolina Disability Insurance plays a vital role in your financial portfolio.
What is the likelihood of you becoming disabled?
Amazingly 43 percent of all people age 40 experiences a long-term disability before they reach age 65. That is almost 1 out of 2 adults will experience a disabling event at some point in their career. That high of a percentage isn’t worth going without disability insurance and risking all your years of hard work in the event of an unfortunate and untimely incident.
How will Social Security help you if you are disabled and can’t work?
If you have paid into the Social Security system for at least 10 of your working years you may qualify for Social Security disability. However, it is important to note that only 47 percent of Social Security applicants are approved. Even if you are approved your disability must be expected to last at least 12 months or result in death and there is a 5 month wait before benefits start. Additionally the average monthly benefit for Social Security disability is $894. Is this enough to cover your monthly bills and medical expenses?
Medical claims and bankruptcy.
You have probably heard that 50% of all bankruptcies in the United States are due to high medical bills and the majority of these were with people that had medical insurance. That’s a staggering figure and one that we feel would be much lower if these people had disability protection. Imagine, people that experienced high medical claims probably experienced some length of disability where they weren’t able to earn their income. If you had a North Carolina disability insurance policy your take home income would be replaced in this unfortunate event insuring that you didn’t meet financial ruin.
Call today for a no obligation analysis of your current situation and to see just how affordable North Carolina Disability Insurance really is…you will be amazed.