Articles

The prospect of suddenly having to face life with a disability that limits your ability to work in the way you're used always seems unlikely. Disability is something other people face, maybe in old age, but not you. While disability insurance may seem unnecessary right now the facts give cause for the preemptive action.

Insurance may be less about if you’ll need it than when you’ll need it. Anyone who started driving at 16 is likely to have had a claim by the time they’re 34. More than 1 in 20 insured properties reported a claim in 2016, according to Insurance Services Office (ISO).

Think about it. What would happen if suddenly, due to an illness or injury, you were unable to work? Without your paycheck, how long would you be able to make your mortgage or rent payment, buy groceries or pay your credit card bills without feeling the pinch? If you’re like most, it wouldn’t be long at all:

If you can't work because you get sick or injured, disability insurance will pay part of your income. You may be able to get insurance through your employer. You can also buy your own policy

Saving for retirement is very important, but many people feel that they can’t spare the money to participate in a retirement plan or even create a basic savings account.