The Reason A Young Adult In Good Health May Need Disablement Insurance Cover
There's an adage to the effect that youth is lost on young people. The reason being, young adults tend to take their youthfulness as a matter of course and don't pay a great deal of attention to it until they are much older. Precisely the same may be said of the young grown-up who is perfectly healthy.
Given this scenario, it is scarcely surprising then that a young adult in good health who has just been employed in their very first long-term full-time job might not be inclined to spend part of their monthly income on disability insurance. They may possibly be even less willing to purchase this sort of life insurance if they are not yet wed or do not have any dependents and have previously been lucky enough to have had their medical expenses taken care of by their parents. For these untroubled young people with a steady income and few obligations the likelihood of becoming critically ill or becoming incapacitated is far removed from their present life.
Now, we do not want to rain on anyone's parade but there are several excellent explanations why a young grown-up in this situation really ought to get this sort of insurance. Disablement as a result of accident or illness can occur at any time even if a person is young and healthy. No-one really likes to harbor the idea that they could become handicapped while they are still in the prime of life but there is also no means of knowing for certain that a mishap of some kind will not happen.
For starters, there are so many cars on the roads nowadays that the likelihood of becoming involved in a car accident is much higher than it used to be a few decades back. Unfortunately, a serious car accident could lead to disability which might in turn impact the person's lifestyle and capacity to earn a living. For this reason it could be wise for the young grown-up to protect themselves against this scenario by buying an insurance plan which includes disability protection.
Then there's the possibility of acquiring an incapacitating condition such as cancer or Multiple sclerosis, for instance. A young grown-up with an inherited disease in the family is particularly vulnerable and must make provision for it. The younger grown-up who participates in hazardous sporting activities like dirt biking, as well as cheerleading, also needs to get this kind of insurance as the chance of injury is, sad to say, increased with this particular sort of activity. Even individuals who have been identified as having a mental condition could have need of disablement cover.
If a person does not have any dependents then it might not be necessary for them to insure their life. However, any person who is self-supporting and earning an income needs some form of handicap protection which will provide them with financial aid should they be unable to earn a good salary due to disablement. Personal injury or sickness because of a dangerous working environment may be taken care of by the employer's workmen's compensation fund. Nevertheless, it could be wise to possess some additional individual insurance which includes disablement protection because a policy like this will typically pay out a lump sum directly to the holder of the policy and is very useful to have.