Getting injured on the job is the reality for many, especially those who work in labor-intensive work environments. To protect yourself, knowing and understanding the offerings of disability insurance can mean the difference between paying your bills on time and worrying about money. Below you can find helpful information about the ins and outs of the many types of disability insurance in New Jersey.
What is disability insurance?
Like most insurance, disability insurance provides you with protection in the event of an accident or injury. Insurance coverage can depend on your policy and your needs. However, often, if injured, the insurance can cover a significant portion of your pay if you are unable to work.
Types of disability insurance
Generally, there are two district types of private disability insurance. Short-term disability insurance covers injuries or illnesses from which someone will recover in a short period of time. This type of insurance coverage is sometimes provided as an employee benefit and covers medical events ranging from childbirth to taking care of chronic illnesses such as back pain.
Long-term disability insurance, on the other hand, provides coverage and assistance for those who are unable to work for an extensive time period, such as months or years. This type of insurance can be especially useful if you work in a job that requires a lot of manual labor or work accidents are common.
Benefits of disability insurance
The primary benefit of having disability insurance is peace of mind for your financial matters. And while the insurance benefits may not completely cover your full salary, they can still offer you a significant amount of money to cover your bills and everyday expenses while you recover or adjust to life with new health conditions.
Disability insurance is a great way to protect you and the ones you love from life’s unforeseen circumstances. With the protection this type of insurance provides, you can feel more confident in taking care of your financial obligations in the event of health challenges.
