Insurance 4 Insurance

Insurance may not be a glamorous or exciting topic; however it is an essential part of our lives. Protecting your family, your income and your assets against the unforeseen should be an important inclusion in any financial plan.

If you are like most people, everything you have or hope to have for yourself and your family requires that you continue to earn an income. Income is the foundation that supports your expenses, your lifestyle and your future plans.

Most people don’t realize the risk of becoming disabled, permanently or temporarily, at some point in their lives. But the reality is that at age 40, your chances of becoming disabled for 90 days or more prior to age 65 is 43%.If income is interrupted because of an accident or sickness; it may be difficult or impossible to provide basic family needs.

Long-term disability income insurance provides financial protection if you become disabled. It helps pay current bills so that savings accumulated for your children’s education or your retirement can remain intact.

Income protection insurance is where the insurer will pay you a specified amount of money (usually monthly payments) if you become disabled and unable to work. Insurance policies are like contracts.

The length of time that benefits can be received varies by policy. Some individual policies pay benefits for a specified period of time, such as two or five years, while others pay benefits until age 65 or your retirement age under Social Security.

When something bad happens, you naturally want to race out and claim on your insurance as soon as possible. By satisfying your insurer’s requirements, you can maximize the success of your claim.

The amount of income you would receive when disabled varies by policy. However, benefits from all sources are usually limited to 70-80 percent of your monthly salary. Policies that pay 50-60 percent of salary are most common. Most policies do not replace commission or bonus income. An individual policy provides protection for as long as you continue to pay the premium.

Disability income insurance is sold individually through insurance agents, or through group policies which may be available from your employer or professional organizations.
If disability income insurance is the protection you need, shop around and compare policy features before making a purchase.

Before purchasing an individual long-term disability income insurance policy, evaluate the benefits you may already be eligible to receive from your employer, the government, or other programs.

Make sure you fully understand any policy you are considering-a policy that does not provide the protection you need is not a good buy.

Insurance may not be a glamorous or exciting topic; however it is an essential part of our lives. Protecting your family, your income and your assets against the unforeseen should be an important inclusion in any financial plan.

If you are like most people, everything you have or hope to have for yourself and your family requires that you continue to earn an income. Income is the foundation that supports your expenses, your lifestyle and your future plans.

Most people don’t realize the risk of becoming disabled, permanently or temporarily, at some point in their lives. But the reality is that at age 40, your chances of becoming disabled for 90 days or more prior to age 65 is 43%.If income is interrupted because of an accident or sickness; it may be difficult or impossible to provide basic family needs.

Long-term disability income insurance provides financial protection if you become disabled. It helps pay current bills so that savings accumulated for your children’s education or your retirement can remain intact.

Income protection insurance is where the insurer will pay you a specified amount of money (usually monthly payments) if you become disabled and unable to work. Insurance policies are like contracts.

The length of time that benefits can be received varies by policy. Some individual policies pay benefits for a specified period of time, such as two or five years, while others pay benefits until age 65 or your retirement age under Social Security.

When something bad happens, you naturally want to race out and claim on your insurance as soon as possible. By satisfying your insurer’s requirements, you can maximize the success of your claim.

The amount of income you would receive when disabled varies by policy. However, benefits from all sources are usually limited to 70-80 percent of your monthly salary. Policies that pay 50-60 percent of salary are most common. Most policies do not replace commission or bonus income. An individual policy provides protection for as long as you continue to pay the premium.

Disability income insurance is sold individually through insurance agents, or through group policies which may be available from your employer or professional organizations.
If disability income insurance is the protection you need, shop around and compare policy features before making a purchase.

Before purchasing an individual long-term disability income insurance policy, evaluate the benefits you may already be eligible to receive from your employer, the government, or other programs.

Make sure you fully understand any policy you are considering-a policy that does not provide the protection you need is not a good buy.