If you have life insurance and die, your family will be taken care of financially. But what if you are diagnosed will a deadly or disabling disease and cannot work? What if a miracle happens and you survive the disease but can’t work. Ill health both bodily and financially can be hard on you and your family. Let me recount you my record.
In 2005, I was diagnosed with rectal cancer. Because of unusual medicine, a caring surgeon,chemo and radiation, I am a cancer survivor. While I count my blessings that my life was saved, the treatments and after effects made it impossible to work again. I wish years ago someone had informed me about the benefits of disability insurance. I now live or should I say “exist” on a government disability pension. What I receive is about one fifth what I earned per month when I was working. I was lucky as my home and car were paid for and the children were grown and not living with us any more. What would your financial status be like if you had your monthly income lop down by four fifths?
Do you have a mortgage, car loans, young children at home? What would happen to them? The agony of not being able to care for your family would be worse then the disease you have. In death your family would receive a death payment. But miracle upon miracle, you are alive. The bills retain coming in, but the money is not there to pay them. This means down-sizing your home, selling your cars or even bankruptcy. Don’t be a victim of both disease and financial extinguish.
Sit down and evaluate what you need as a monthly income. Add all your payments together plus extra for inflation. secure at least five quotes for disability insurance. The insurance industry is very competitive and there can be quite the contrast in rates.
0 Responses to “Disability Insurance – Even More critical Than Life Insurance”