Why Long-Term Disability Insurance Is More Necessary Than You Think
Loggers, fishermen, aircraft pilots and flight engineers: these are the most dangerous occupations in the U.S. So it makes sense that these workers would have the strongest need for long-term disability insurance—right?
While these occupations have the highest number of fatalities compared to the total number of workers, most workplace injuries actually stem from accidents like slips, trips, and falls—commonplace accidents that, while often not fatal or life-threatening, can nonetheless cause significant physical damage and keep workers out of work. And every year, millions of workers suffer non-fatal injuries.
People are much more likely to injure themselves by overexerting themselves (by pulling or lifting objects, for example), slipping or tripping, or falling from a high place. Disability insurance is often a lifesaver for workers who get injured on or off the job and need medical care as well as time off from work.
While it’s important to note that disability insurance covers individuals who experience injuries both in and outside of the workplace, the truth is that Americans spend 90,000 hours in the workplace during their lifetime – that’s no small chunk. Here are some of the most common workplace injuries and why long-term disability insurance and rehabilitation benefits are extremely important.
The Most Common Workplace Injuries
Out of all workplace injuries, the most common is overexertion. This injury could result from pulling, lifting, holding, pushing, carrying, or throwing something at work. Not only is overexertion the most common injury but it’s also among the most expensive. The type of actions that tend to cause overexertion are quite common: for example, you could work in an office and be carrying a water cooler container and injure yourself.
The next most common type of workplace injury is slipping or tripping, and, like overexertion, this could happen in any type of work environment. People often slip on wet floors or trip over objects on the floor. These slips and trips can lead to falls, but workers also get injured just from the slip or trip itself—these movements can lead to muscle injuries and other kinds of trauma.
Workers also get hurt by falling from high places such as ladders, roofs, and stairways. The person might slip on their own, or they may fall due to faulty equipment.
As you can see, these are injuries that can take place in a wide variety of workplace environments, even those that seem completely safe.
What Disability Insurance Can Do For You
Disability insurance covers any illness or injury that prevents you from doing the regular duties associated with your job. This includes both short-term and long-term disability and illness. It helps protect the finances of someone who is facing a long-term disability.
Disability insurance generally costs around 1-3 percent of your annual income. This number may seem like a lot, but when you consider how much you might spend if you become disabled, it is a very small price to pay for a huge financial (and psychological) safety net.
How does a rehabilitation benefit help me?
Most disability insurance policies offer a rehabilitation benefit. This benefit pays some of the expenses incurred when the disabled insured person enrolls in an approved rehabilitation program. The goal of a rehabilitation benefit is to help the disabled or injured person return to work. Not all companies offer this benefit as part of disability insurance, so make sure to check your policy to see what your coverage includes.