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Protect Yourself With Disability Insurance

Protect Yourself With Disability Insurance

When it comes to selecting the insurance policies you need to protect yourself and your family from unforeseen events, you have probably covered all of the basics. Auto insurance, homeowner’s insurance, life insurance.  Many people never look beyond these main three. There is one particular policy, however, that is often overlooked an that could prevent you from losing everything in the event that you are unable to work. Disability insurance is one of the policies that everyone should carry, but in many cases it is overlooked.

You Really Do Need It

Many people balk at the cost of paying for disability insurance, especially when they are already paying premiums on so many other policies, most of which are not optional. It is easy to let something like disability go.  However, becoming disabled is a very real risk that each of us faces every day. Accidents, injuries, illness—there are many things that could leave you unable to work and thus without an income.

Disability insurance is designed to protect you in the event of any sort of disabling event that puts you in the position of being unable to bring in your regular salary. You may have some coverage with your employee benefits, but in most cases it isn’t really enough to pay your living expenses and take care of yourself and your family. A disability insurance policy will make certain you have the money to continue paying the bills and living your chosen life in spite of a disability.

More Than A Good Idea

Most people will acknowledge that having disability insurance is a good idea, and yet many of them still won’t take out a policy. Much like health insurance, disability insurance is one of those policies everyone wishes they had when it is too late. You can’t get coverage once you are already disabled. Sadly, this is the time when many people realize just how important it really is.

Disability insurance should be considered just as important as those top three: auto, home, and life. It truly is a must-have insurance policy that will make an incredible difference should the day come when you need to use it

Talk to your insurance agent about disability insurance. They will help you determine how much you need and what type of policy is right for you; it is well worth it for your peace of mind.

Protect Yourself With Disability Insurance

Protect Yourself With Disability Insurance

When it comes to selecting the insurance policies you need to protect yourself and your family from unforeseen events, you have probably covered all of the basics. Auto insurance, homeowner’s insurance, life insurance. Many people never look beyond these main three. There is one particular policy, however, that is often overlooked and that could prevent you from losing everything in the event that you are unable to work. Disability insurance is one of the policies that everyone should carry, but in many cases it is overlooked.

You Really Do Need It

Many people balk at the cost of paying for disability insurance, especially when they are already paying premiums on so many other policies, most of which are not optional. It is easy to let something like disability go. However, becoming disabled is a very real risk that each of us faces every day. Accidents, injuries, illness—there are many things that could leave you unable to work and thus without an income.

Disability insurance is designed to protect you in the event of any sort of disabling event that puts you in the position of being unable to bring in your regular salary. You may have some coverage with your employee benefits, but in most cases it isn’t really enough to pay your living expenses and take care of yourself and your family. A disability insurance policy will make certain you have the money to continue paying the bills and living your chosen life in spite of a disability.

More Than A Good Idea

Most people will acknowledge that having disability insurance is a good idea, and yet many of them still won’t take out a policy. Much like health insurance, disability insurance is one of those policies everyone wishes they had when it is too late. You can’t get coverage once you are already disabled. Sadly, this is the time when many people realize just how important it really is.

Disability insurance should be considered just as important as those top three: auto, home, and life. It truly is a must-have insurance policy that will make an incredible difference should the day come when you need to use it

Talk to your insurance agent about disability insurance. He will help you determine how much you need and what type of policy is right for you; it is well worth it for your peace of mind.

 

Mortgage Disability-How Much Coverage Do You Need To Protect Your Home

(Mortgage Disability) How Much Coverage Do You Need To Protect Your Home

Taking out a mortgage disability policy is a smart way to ensure you will be able to pay your mortgage and keep your home if you become disabled. No matter how much you may have put aside in savings, if you face a long-term absence from work you may find it difficult to pay your mortgage for the duration. Having an insurance policy in place to pay your mortgage is an important part of your comprehensive insurance package.

Choosing Mortgage Disability

Obviously, the most important thing to consider when you choose mortgage disability coverage is the monthly payment you make on your mortgage. You need to take out a policy that can cover the entire monthly payment, otherwise you will need to make up the difference. Be sure to review your policy regularly to make sure it remains accurate, as a refinance or change in your mortgage loan could change the amount you pay every month.

The other important factor to look at is the length of time you will need coverage. While most mortgage disability policies are intended for a longterm situation, there are a wide variety of policies and a great range in the length of time for which the coverage is provided.

If You Have Other Coverage

You may have a policy that provides you with a certain amount of money to pay for living expenses, such as a disability policy that is a part of your employment benefit package. In this case, you might need a mortgage disability policy to fill the gaps and cover you specifically for that purpose, leaving the other coverage to pay for utilities and other expenses.

Don’t assume that the coverage you have is enough to pay for your mortgage as well as all other living expenses. Take the time to do the math. Once you know how much coverage you already have, you will know what you need from a mortgage disability policy. Of course, it’s always a good idea to have more coverage than you think you need, so consider increasing benefits wherever possible.

Your insurance agent can walk you through the process of selecting a mortgage disability policy to match the rest of your insurance package. Creating a comprehensive disability plan that covers all your bases should be the primary goal; be sure you have the right combination of policies to protect you in case of a long-term illness or injury.

How Much Disability Income Insurance Do You Need

Try to imagine what would happen to your life and your family if your income suddenly disappeared. If you are the only income in your household, it could be disastrous. Even if you have two incomes, in today’s economy most people need both incomes and every dollar to get by. The loss of an income due to disability would put most people in a difficult position. Disability income insurance is designed to prevent this from happening.

Keep Your Income

If you were disabled, your income would be reduced or even eliminated, depending on what kind of benefits you have at work. But your bills would not go away. If you were disabled, how would you handle your mortgage and utilities, and pay for things like groceries? The last thing you need when already dealing with the crisis of a disability is to also worry about where the money is coming from to pay your bills. This is where disability income insurance comes in.

A good disability income insurance policy will provide you with a replacement income that lets you take care of getting better and not have to worry about financial problems.

How Much Coverage You Need

The amount of disability income insurance you need depends on just how much your family needs your income to survive. If you are the sole provider of income in your family, then odds are good you need to replace that income completely and for as long as possible to avoid financial disaster. If you are one of two people providing an income, and especially if your income is supplementary, you might be able to get by with a less comprehensive policy.

For the main breadwinner in any household, a good disability income insurance policy is an absolute must. You will need to make sure that you continue to have enough money coming in to keep your home and living expenses taken care of, and to continue the life that you have worked so hard to achieve for yourself and for your family.

When it comes to choosing this type of policy, the bottom line is to consider what you would be willing to give up or live without if something were to happen to you. For most people, the answer is simple; it is better to pay a premium on a comprehensive policy than to risk losing your way of life. Take the time to talk to your insurance agent about your disability coverage, and make certain that you won’t find yourself without the income to pay your bills if you are unable to work.

Disability – Are You Really Covered

If you are like most people, you probably don’t give much thought to

disability insurance, especially if you are young and healthy. You may also

think that you have whatever coverage you may need, between your health

insurance plan and your company benefits for disability. Although disability

is one of the most important policies you can carry, many people either think

they are already covered, or don’t really think about it much at all.

 

The Coverage You May Have

Many companies offer some disability coverage as a part of their employee

benefits package. You probably do have some coverage available to you, but

the odds are very good it’s simply not enough. Most employee benefits

packages offer a limited amount of disability coverage, usually a percentage

of your salary for a short period of time. In many cases there is no longterm

coverage at all.

 

If you aren’t even aware of what kind of disability coverage you currently

have, you need to take the time to find out. Ask your HR department for a

copy of the policy and get acquainted with the limits of the policy and what

coverage you actually have. Seeing it written out often makes it immediately

clear that in the case of a serious disability, you simply don’t have enough

coverage.

 

Getting The Right Coverage

You can’t count on your health insurance or your company provided benefits

to give you enough to live on in the case of a serious disability. You may not

think it will ever happen to you; still, we are all at risk. An accident, an

unexpected illness; none of us is free from the possibility. And if it does

happen to you, the benefits you currently have are unlikely to provide you

with everything you need to pay your bills and get back on your feet.

It’s up to you to protect yourself and your family with a comprehensive

disability policy that will ensure that an illness or injury doesn’t become a

financial disaster. Your insurance agent can help you to understand your

options and choose policies that will work with your budget while filling in the

gaps left by the coverage you now have.

 

Choosing the right disability insurance will give you the peace of mind of

knowing that the unexpected won’t leave you devastated and that you will

still be able to provide for your family, keep your home, and take the time to

recover.

Long-Term Disability-The Most Important Policy Most People Don’t Have

Long-Term Disability-The Most Important Policy Most People Don’t Have

 

You know you need insurance to help protect you from the unexpected. You

carry auto insurance because you acknowledge the possibility of an accident,

theft, or vandalism. You carry homeowner’s insurance because you know a

fire or burglary could happen to anyone. You probably have life insurance

because you know that if the worst should happen, your family would need to

be provided for and you realize that it could happen at any time. And yet,

many people don’t carry long-term disability insurance. You know that you

are at as much risk as anyone of an accident or illness sidelining you from

working, so why not carry coverage to protect you from this possibility?

 

Another Policy?

With all of the insurance we are required by law to carry or have been told

we can’t live without, it can seem like it’s just yet another policy you have to

pay for and yet another premium coming out of your bank account, all based

on “what if?” Long-term disability insurance is often the policy that falls

through the cracks or is simply dropped because people don’t want to pay

another premium.

But before you discount disability insurance, consider the reality of what

would happen if you were disabled for a long period of time. Your workplace

benefits probably give you a small amount of coverage, but when they run

out and you still can’t work, what then? A long-term disability policy gives

you extended coverage for the difficult situation of an illness or injury that

you can’t simply get over in a matter of weeks. Without it, you could lose

your home, your car, and your entire lifestyle, all while trying to take care of

your health.

 

The Cost Of Long-Term Disability

If you don’t have an LTD policy because you feel the premiums are too high

or not worth it, take a moment to think about what it will cost you if you do

not have the policy and do become disabled. Without your salary, even with

whatever benefits you have from work or other sources, your life will change

completely. You won’t be able to afford the things you are used to having.

Not only will you be facing the difficulty of trying to recover and take care of

yourself, you will have to struggle to pay the bill and face the stress of losing

things that are dear to you.

Long-term disability insurance is the one policy too many of us do not have

that we absolutely need. Don’t wait until it’s too late; talk to your insurance

agent today.

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