A groundbreaking study by the National Disability Institute and the Multiple Sclerosis Association of America reveals that three out of four people diagnosed with multiple sclerosis experience financial hardship and more than two thirds are subject to financial instability.
The financial problems result largely from difficulties maintaining or securing employment after diagnosis, the report says. The intermittent nature of MS bouts can limit work and cause underemployment. That, coupled with the uncovered costs of treating the disease, can strain or drain finances.
The latest Census data show that one out of three Americans living with disability lives in poverty. You don’t need to be one of them.
Too Little Too Late
A diagnosis of MS or any other disabling disease or condition will affect your ability to secure income protection in the form of disability insurance. That’s why it is so important to buy physicians disability insurance when you are young. Prices are usually better for youthful applicants as well.
One third of U.S. workers will experience some kind of disability during their working years. Those who have invested in their future and prepared for such a problem will be much better off. Problems like MS, diabetes, heart problems, high blood pressure, Crohn’s disease and the like are not just for the elderly. These are issues facing people in their 20s and 30s and can cause significant absence from work.
The key is to get the right amount of the right kind of disability insurance early enough in life so that you are protected. That requires some upfront planning and working with an expert on medical professionals disability insurance to get your questions answered.
As a medical professional, you might not be completely prevented from working by a diagnosis of MS, but you might have to switch to a lower-earning position. An “own occupation” disability policy will cover the difference between the salaries that’s caused by your illness.
Don’t wait to see if you develop disabling problems or until symptoms begin manifesting. Invest in income protection with options for increases in coverage as your earnings grow over the years. Speak to a professional doctors disability specialist about your options by visiting us at www.doctordisability.com/contact-us or by calling 866-899-7318.