Do You Need Disability Insurance?
Editor's Note: This is a Guest post from Bailey Harris
During this time of financial uncertainty, with many wondering if their income will continue to surpass their outflow of cash, a lot of people are cutting corners in an attempt to keep their heads above water. Sacrifices are made on a daily basis. Foregoing that trip to the mall in favor of clipping coupons has become a way of life. Eating at home and saving the restaurant experience for special occasions is frugal and makes dining out more exciting when you do splurge.
There are, however, many areas where cutting corners is inadvisable. Maintaining adequate insurance coverage is one aspect of our lives that any reasonable person considers necessary. If the situation ever arises where something dire happens, having financial protection helps you concentrate on dealing with the problem instead of worrying about paying for the help you will certainly need.
If you bang up your car, auto insurance will bail you out. Homeowners insurance will pay for the siding on your house that's damaged during a storm. The need to protect your family in case of the breadwinner's death is a no-brainer. But most people don't think about the one area of their lives where they should certainly not try to save money…disability insurance. No one really wants to think about actually needing disability insurance. After all, that would mean you're injured or sick and unable to meet your responsibilities. The reasons you need disability insurance are practically limitless. What steps can you take to protect yourself?
Think Ahead
Don't wait until it's needed. Lying in a hospital bed recovering from surgery is no time to be worrying about paying bills. Talk to your insurance agent ahead of time and concentrate on getting better. Your family needs you.
Is Your Problem a Preexisting Condition?
Getting medical disability coverage after you need it can be tough, maybe even impossible. At the very least it will be expensive. Taking steps to protect yourself before you actually need the help is not only financially imperative; it's the intelligent thing to do.
Don't Become a Statistic
To paraphrase an old saying, there are lies, very bad lies, and then there are statistics. Some stats claim that more than 1/3 of all Americans aged 35 to 65 will need financial help due to a disability sometime during their working career. Some people are skeptical, claiming the statistics are false or misleading. Why take the chance? If even a portion of the claim is true, do you want to be one of the 33 percent that need financial help when you're disabled, and due to skepticism are unable to meet your financial needs? Better safe than sorry, right?
Peace of Mind
If for no other reason than to save yourself the hassle of worry and stress over wondering if your financial responsibilities will be met, make sure you're properly insured. Talk to your insurance carrier about your potential needs. Save the stress for the next putt you're lining up while your friends are looking on or the missed field goal that sends the game into overtime instead of chalking up another win for your favorite football team.
Long-Term or Short-Term?
The variety of disability options are numerous and confusing. Some policies kick in immediately; others don't take effect until a period of time passes. Certain policies pay a large percentage of your actual income while others cover much less. Researching the options is the intelligent thing to do, and you'll be glad you did should the occasion arise when you actually have to make use of the policy. Of course, avoiding the need is recommended!
Insurance: A Guide
"Remember kids, I have life insurance" - Adam Savage
This is a guest article from Tatyana Levin
These days one must be financially savvy. Money is not easy to come by and should be managed carefully. With the availability of tools that make it easy to keep track of current events, the stock market, and even your own money, it would be almost a crime to not utilize these tools to make the best and most informed financial decisions. Unfortunately, the more there is, the more there is to keep track of. This applies both to tracking tools and money (the small curse within the comfort of having money to keep track of).
The savvier ones of us dabble in investments, and the savviest make their living that way. The key is that they know what to invest in. Not magically, of course; investors do a significant amount of research to learn how to optimize their portfolios, but they have the understanding.
A grossly overlooked investment is insurance. This may be because is not typically referred to as an investment with the exception of whole life insurance that has a specific investment component within it. Webster’s defines the word “invest” as a commitment of money for a return and “insurance” as a guarantee. This makes insurance the safest type of investment, because your returns are guaranteed. But returns are not always financial in the case of insurance. They can be, if there is an unforeseen accident, but the most certain return is the feeling of security.
Now there are many different types of insurance, and what you need depends on your current situation. Obviously you only need auto insurance, found using auto insurance leads if you have a car, and you only need renter’s insurance if you rent and have possessions that you would need insured. Insurance is for those who have something to lose. With an attachment to something, either emotional of physical (or dependence, not like physically being glued to your car), comes the fear that it will be damaged or ruined in some way. For example, if your house caught on fire, you would be devastated. What would add insult to injury is not having a way to recover from this horrible disaster.
These types of examples are not unique to this article. That is the way that insurance is sold. As they say that clichés are clichés for a reason, insurance is promoted this way for a reason. The foundation of the concept of insurance is uncertainty, and it is the same uncertainty that is conjured up when investing.
The main difference between insurance and investment is that not having insurance creates a feeling of uncertainty while investments by nature are uncertain. Therefore, investing in insurance creates security and is the only secure investment that exists (and is legal). Getting insurance should be one of the easier financial tasks if you apply all the resources available with technological advances like smart phones.
About the Author: This article was written by Tatyana Levin, a copywriter for InsuranceFiles.com
Editor's Note: This is a Guest post from Bailey Harris
During this time of financial uncertainty, with many wondering if their income will continue to surpass their outflow of cash, a lot of people are cutting corners in an attempt to keep their heads above water. Sacrifices are made on a daily basis. Foregoing that trip to the mall in favor of clipping coupons has become a way of life. Eating at home and saving the restaurant experience for special occasions is frugal and makes dining out more exciting when you do splurge.
There are, however, many areas where cutting corners is inadvisable. Maintaining adequate insurance coverage is one aspect of our lives that any reasonable person considers necessary. If the situation ever arises where something dire happens, having financial protection helps you concentrate on dealing with the problem instead of worrying about paying for the help you will certainly need.
If you bang up your car, auto insurance will bail you out. Homeowners insurance will pay for the siding on your house that's damaged during a storm. The need to protect your family in case of the breadwinner's death is a no-brainer. But most people don't think about the one area of their lives where they should certainly not try to save money…disability insurance. No one really wants to think about actually needing disability insurance. After all, that would mean you're injured or sick and unable to meet your responsibilities. The reasons you need disability insurance are practically limitless. What steps can you take to protect yourself?
Think Ahead
Don't wait until it's needed. Lying in a hospital bed recovering from surgery is no time to be worrying about paying bills. Talk to your insurance agent ahead of time and concentrate on getting better. Your family needs you.
Is Your Problem a Preexisting Condition?
Getting medical disability coverage after you need it can be tough, maybe even impossible. At the very least it will be expensive. Taking steps to protect yourself before you actually need the help is not only financially imperative; it's the intelligent thing to do.
Don't Become a Statistic
To paraphrase an old saying, there are lies, very bad lies, and then there are statistics. Some stats claim that more than 1/3 of all Americans aged 35 to 65 will need financial help due to a disability sometime during their working career. Some people are skeptical, claiming the statistics are false or misleading. Why take the chance? If even a portion of the claim is true, do you want to be one of the 33 percent that need financial help when you're disabled, and due to skepticism are unable to meet your financial needs? Better safe than sorry, right?
Peace of Mind
If for no other reason than to save yourself the hassle of worry and stress over wondering if your financial responsibilities will be met, make sure you're properly insured. Talk to your insurance carrier about your potential needs. Save the stress for the next putt you're lining up while your friends are looking on or the missed field goal that sends the game into overtime instead of chalking up another win for your favorite football team.
Long-Term or Short-Term?
The variety of disability options are numerous and confusing. Some policies kick in immediately; others don't take effect until a period of time passes. Certain policies pay a large percentage of your actual income while others cover much less. Researching the options is the intelligent thing to do, and you'll be glad you did should the occasion arise when you actually have to make use of the policy. Of course, avoiding the need is recommended!
Insurance: A Guide
"Remember kids, I have life insurance" - Adam Savage
This is a guest article from Tatyana Levin
These days one must be financially savvy. Money is not easy to come by and should be managed carefully. With the availability of tools that make it easy to keep track of current events, the stock market, and even your own money, it would be almost a crime to not utilize these tools to make the best and most informed financial decisions. Unfortunately, the more there is, the more there is to keep track of. This applies both to tracking tools and money (the small curse within the comfort of having money to keep track of).
The savvier ones of us dabble in investments, and the savviest make their living that way. The key is that they know what to invest in. Not magically, of course; investors do a significant amount of research to learn how to optimize their portfolios, but they have the understanding.
A grossly overlooked investment is insurance. This may be because is not typically referred to as an investment with the exception of whole life insurance that has a specific investment component within it. Webster’s defines the word “invest” as a commitment of money for a return and “insurance” as a guarantee. This makes insurance the safest type of investment, because your returns are guaranteed. But returns are not always financial in the case of insurance. They can be, if there is an unforeseen accident, but the most certain return is the feeling of security.
Now there are many different types of insurance, and what you need depends on your current situation. Obviously you only need auto insurance, found using auto insurance leads if you have a car, and you only need renter’s insurance if you rent and have possessions that you would need insured. Insurance is for those who have something to lose. With an attachment to something, either emotional of physical (or dependence, not like physically being glued to your car), comes the fear that it will be damaged or ruined in some way. For example, if your house caught on fire, you would be devastated. What would add insult to injury is not having a way to recover from this horrible disaster.
These types of examples are not unique to this article. That is the way that insurance is sold. As they say that clichés are clichés for a reason, insurance is promoted this way for a reason. The foundation of the concept of insurance is uncertainty, and it is the same uncertainty that is conjured up when investing.
The main difference between insurance and investment is that not having insurance creates a feeling of uncertainty while investments by nature are uncertain. Therefore, investing in insurance creates security and is the only secure investment that exists (and is legal). Getting insurance should be one of the easier financial tasks if you apply all the resources available with technological advances like smart phones.
About the Author: This article was written by Tatyana Levin, a copywriter for InsuranceFiles.com
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