Disability can happen to anyone and it can happen at any age. One in four 20-year-olds today will develop a disability before the end of their work life, and a disability can affect not just your physical health but also your financial security.
It's imperative to make a plan for what will happen if you experience a disabling injury. Some of the steps you should take include:
- Having an emergency fund: If you suffer a disabling injury or illness, you may be unable to work for several months. Your condition could also prevent you from working permanently. Social Security Disability provides monthly income for people with qualifying disabilities that last for a year or longer, but there is a long wait to get benefits. An emergency fund ensures you have income during the time when you cannot work due to a short-term disability or when you are waiting for benefits from Social Security Disability to kick in.
- Purchasing disability insurance: Social Security Disability only provides income if your condition is long-term. If you have a short-term disability, you may not have any outside sources of funds coming in. It's a good idea to buy a short-term disability insurance policy while you are healthy to provide for you when a medical condition stops you from working.
- Understanding your rights: If you become disabled, it's important you understand the benefits you could be eligible for through the Social Security Administration or through workers' compensation if your disability was work-related.
A Los Angeles disability benefits attorney can help you to take action if disability happens to you. An attorney can work with you to identify what types of Social Security disability benefits or other benefits you may be entitled to, and can help you to make a benefits claim.