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Here is an article on the general subject of disability insurance. It has been added to this site because it should be of general interest to people searching for this, or a similar phrase. Even if you are not searching for the phrase "disability insurance" specifically, I hope that you enjoy this article, since it fits in with the general theme of this site.
Disability Insurance: 9 Answers Not To Buy
by Ivon T. Hughes
Disability insurance in general provides a payment, usually monthly, if you become sick or injured and unable to work. While disability insurance is easy to understand, people rationalize not purchasing a policy due to various reasons.
Disability and a Vacation- If I am unable to work, I have more than sufficient funds to stay 2 or 3 years without working.
Disability and Health- I don't know anyone who has ever been disabled, so why would it happen to me?Disability Insurance and Money- I can't afford it.
Disability Insurance and Family- My family would support me as I really don't have to work.
Disability Insurance and Assets- I have savings and I have a house I could sell.
Disability Insurance and Income- A lot of my income, comes from investments.
Disability Insurance and Government- The government will take care of me.
Disability Insurance and Spouse- My spouse can continue to work and my children don't need my help.
Disability Insurance Divided
Any of the reasons may be true or partially true. But let's divide disability into short and long terms. To be so disabled that you cannot work for three months means you have been handicapped in a serious way! But we'll assume that everybody can meet their bills for this period.
But what happens after 3 months?
Now we are definitely getting into a long term disability. Lets say you provide $2000 net a month to your family. If you are disabled for life, where is that money going to come from? For this article I won't even start to discuss extra medical costs that may occur.
For your peace of mind and that of your family, get some disability insurance.
Ivon T. Hughes of The Hughes Trustco Group is a licensed Insurance Broker. Author of The Life Insurance Handbook. - Get a FREE Copy TODAY! Email: info@trustco.ca Web: www.hughestrustco.com
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