What are the odds you will become disabled to the point where you will be unable to work for a significant period of time?

Three in 10, according to the Council for Disability Awareness (CDA). To help you prepare for the possibility of a disabling injury and the devastating effect it could have on your family, the CDA poses the following five questions you should ask yourself:

1. Do I know all of my monthly living expenses? Would they continue if my income stopped?

2. How long would my personal savings pay for my monthly expenses and out-of-pocket medical expenses?

3. Do I have access to a disability plan through work? If so, how much would it pay and how long?

4. Do I have other sources of income available to me to pay my expenses, such as alimony, second mortgage, credit cards, etc.? If so, for how long would this income cover my expenses?

5. Could I afford medical COBRA premiums or other medical costs?

The CDA warns that these five questions are just the beginning to fully understanding the financial impact of a disabling injury. For more information on disability insurance, contact our team of professionals.