Blogs in Real Estate

A scenario that many Americans do not properly prepare for is with concern to their health.  Many Americans do not realize that there is a chance that they will not be able to perform their job at some point in their life because of a health disability or illness that may strike at one point or another.  Although this may not come true, it is important to at least have some safety plan in place.

Most Americans are not prepared to deal with the possibility of becoming disabled due to sickness or injury and leaving the workforce for an extended period of time. In fact, more than half of U.S. adults said they would be unable to pay their bills or meet expenses if they became disabled and could not work for a year or longer, according to a recent National Association of Insurance Commissioners (NAIC) study.

And the possibility of becoming disabled and unable to return to work is quite high for many Americans. One-fifth of this nation’s population will actually become disabled for a year or more before reaching age 65, according to the Social Security Administration (SSA). The most common causes of long-term disability are heart disease, back injuries and cancer, followed by stress, anxiety and depression according to the U.S. Department of Education and the National Institute on Disability and Rehabilitation. By contrast, slightly more than one in 10 Americans surveyed by NAIC say that it is somewhat or very likely they would become disabled and unable to work.

By trying to find a financial advisor, consult a private wealth management firm, or use a financial planning guide, it is important to find a plan to prepare for a potential illness or disability.  By having this type of insurance policy, the future will not have to be of worry every time you get sick, and you will not have to try to work through poor health if it ever strikes.