Is Disability Insurance Important to You?
Anyone who works to earn an income and depends on that income to provide for their living and lifestyle
expenses needs disability insurance. Most people own life insurance and understand the value it provides. They know that a premature death could have serious financial consequences for the people who depend on them. It also needs to be considered how different the consequences would be if
they were to become permanently disabled. It is possible for their dependents to be in a worse position
financially than if they had actually died. Not only would their income stop, but they would become a financial drain on the scarce resources available to those dependents. This drain would take the form of both on-going living expenses and the additional cost of medical expenses for the disabled person. So what is disability insurance? Simply stated, disability insurance is a policy much like a life insurance policy. However, rather than on death, it pays during disability. And rather than a lump sum benefit, it pays a monthly benefit while the policy's definition of disability is being satisfied.
Find out more about how disability insurance can benefit you.
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