Whether you own your own business or work for a company or a general contractor, becoming an electrician can be a rewarding career option. Because the income you will generate is important, you need to have electrician disability insurance to protect it.
Why You Need Electrician Disability Insurance
In addition to a wide range of work environments and options, as an electrician, you likely earn between $26,000 and $71,000 per year. Of course, that income goes toward paying your family’s financial obligations.
However, what would happen to your financial situation if you weren’t able to work for several weeks? What about several months? The inability to work even for as short as several weeks can put a strain on your budget and the possibility of an injury happening to you should not be taken lightly.
Electrician disability insurance can help to offset those challenges because it will give you a monthly compensation that is designed to replace a percentage of your lost income if you are unable to work.
Regular Costs Won’t Subside If You’re Disabled
Even if you’re unable to go to work, you’ll need to pay for your rent or your house payments, you’ll have to pay for your vehicles as well as for your utilities and all other costs. In addition, you may also have licensure requirements, ongoing training, or even business-related costs.
Any lapse in income could mean meeting those obligations is difficult or even impossible. Electrician disability insurance helps ensure you don’t experience such a lapse.
Other Insurance Policies Don’t Replace Lost Income
A worker’s compensation will protect you only if you’re injured on the job, not outside of it. But what would happen if you were injured somewhere other than your job post? Your health insurance won’t give you any coverage for lost income and neither will your auto insurance. They can only provide coverage for medical and rehabilitation costs, but not your lost income.
So if something happens that would prevent you from working for a certain period of time, you would be left with little to no protection. During this time, your regular costs will keep coming and if you have no source of income, your obligations will go unmet and once you’ve recovered, you can potentially be left with a huge debt to cover. This can all be prevented through electrician disability insurance.
Worried about Disabilities?
Not concerned that you’ll be affected by a disability? You’re not alone. Most American workers feel that they will be unaffected, but the truth is that nearly one-third of all workers will experience a disability that keeps them from working at least once before they retire. In fact, you have a one in five chance of experiencing a disability that lasts at least three weeks before you turn 65.
Back injuries, cancer, heart disease, and other illnesses are responsible for most long-term disability cases in both men and women, so if you thought that the chances of becoming disabled are minimal, think twice. Moreover, the chances of experiencing a disability increase as you age, so the older you get, the bigger the chance of disability is. Electrician disability insurance can offset the implications of those statistics.
How Electrician Disability Insurance Works
Electrician Disability Insurance Works protects your income by providing you with a stream of income if you experience a qualifying disability. Your insurer will pay you a percentage of your average monthly income, and you can then use that money to pay what you need, from your car insurance and utility bills to your home’s mortgage payment.
Why Choose Us
Our expertise in the disability insurance field is invaluable. When you come to us for help with electrician disability insurance, we get to work immediately to make sure you find the coverage you need. With us, you can:
- Be able to review rates from some of the leading providers of individual disability insurance.
- Get quotes from all major insurers in the US that currently offer insurance products in your specific geographic area.
- Learn more about your options when it comes to electrician disability insurance and how it can benefit you in the event that you’re injured and unable to work.
Finding the Right Electrician Disability Insurance
Of course, not all electrician disability insurance policies are created equal. Some are highly beneficial. Others are highly restrictive. Some are flexible, others are rigid. You need to make an informed, accurate comparison before purchasing a policy. We can help you do that – we specialize in providing professionals just like you with the ability to compare disability insurance rates, policy terms, inclusions, benefit amounts and more.
Buy a Disability Insurance Policy While You’re Young
Every day that passes means that the premiums you pay for your electrician disability insurance increase. This is because the amount of the premium of your electrician disability insurance depends on the risk of a disability happening to you and one of the primary factors that contribute to being marked as a higher risk person is your age.
You can save money in the long-term by purchasing coverage as early as possible. Each year you age is more money you’ll be paying out each month in premiums.
Look for Unisex Rates
Statistics show that women are more prone to developing a disability that will prevent them from working full time. The most common disabilities women experience rheumatism and arthritis, but the more serious ones are cancer, heart disease, mental health, and diabetes. As a result, the premiums calculated for women’s disability insurance policies are higher than those for men.
According to a study, women have stated that experiencing a disability would be “somewhat devastating” to their family’s finances. Many also said they worry that their cash reserves would last less than a month if they couldn’t work. This shows the importance of disability insurance and how it can help with a family’s finances.
Ready to get the protection you need? Call us today at 1-877-221-6198 or use the convenient form located on the right side of this page and we will get right to work.