Do you really need to invest in disability insurance? There are common reasons why people don't bother with the extra monthly payments, without thinking of the long-term disadvantages of this. Here are the most common reasons you likely come up with to not need disability insurance, when really you should invest in it.

A Disability Won't Happen to You

How often do you believe that you won't end up disabled? You're currently young, healthy, and there are no disabilities running in the family. Surely, you won't become one of the statistics.

Unfortunately, there's no guarantee that you won't become disabled in the future. There may be no family history because people didn't live long enough to develop disabilities in the past. You could also suffer an accident that leads to a loss of leg or brain damage, for example. Some accidents cause temporary disabilities, making it impossible to work.

The Simple Dollar reports that one in seven people will be disabled for at least five years. Do you really want to risk that being you without coverage?

Your Employer Offers Disability Insurance

If you have it through work, do you really need personal disability coverage? Before you even answer that question, you need to make sure that you really do have it through work. Check your employment contract and make sure it is definitely included as one of your benefits. Health coverage and disability insurance are not the same. Most private employers won't include the disability element.

While they may include it, you need to know more about the policies. What is actually included and what are the caps involved? The last thing you want is to find out you're under insured for your needs. Your HR department will have all the details of your coverage.

It's Too Complicated

There are so many policies and insurers that getting the coverage is just too complicated. This is one of the reasons given, because people don't view it as an important type of cover. It may take time, but this is one of the best decisions you could even make for your future. You protect yourself of potential home foreclosure or bankruptcy. If you really struggle on your own, talk to an insurance broker.

As you can see, there isn't a good reason for not having disability insurance. You may think you don't need it, but it could be one of the best financial decisions you make in your life. If you rely on your pay check for your bills, you definitely need this insurance. For more information, talk to a professional like Reinard Insurance Agency Inc.