How long could you afford to be Without an Income?

How long could you afford to be Without an Income?

If you have a medical issue or an injury that would cause you to be out of work for a long time then what would you do? You could find yourself without any income and no way to replace it. In the state of Connecticut there are no state laws that require employers to provide long term disability insurance. If you’re like most people then being out of work for a long time will start to affect your savings account. Long term disability insurance could help you replace anywhere from 60 – 70% of your income as would short term disability insurance.

Causes of new long-term disability claims:

•   Musculoskeletal/connective tissue disorders: 27.5 percent

•   Cancer: 14.6 percent

•   Injuries and accidents: 10.3 percent

•   Cardiovascular/circulatory: 9.1 percent

•   Mental disorders: 9.1 percent

•   Nervous system-related: 6.9 percent

•   Pregnancy and childbirth complications: 5.1 percent

•   Other: 17.4 percent

Source: 2011 Council for Disability Awareness Long-Term Disability Claims

Your employer is not responsible to give you long term disability insurance that is up to you. It is good to be prepared in case something happens and we are happy to help.