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All About Disability Insurance

All About Disability Insurance

This insurance can be a real life saver…

You are practically an expert at this insurance stuff by now. No, seriously. You probably know more than 90% of the population about insurance. Congrats! But there’s one more type you should know about. It’s called job insurance. Actually, that’s not what it’s called, but that’s really what it does. The real name is disability insurance.

Here’s how it works.

You have a family and you are concerned that if something happened to you, your family would not have enough money to get by. So, you buy some cheap term insurance just in case something bad happens. You sleep soundly at night knowing you are protected.

And then something bad happens. Maybe you fall off a ladder, get in an accident, get diagnosed with something, and you can’t work anymore. The income from your job stops, but the bills keep coming in. The really bad news is you didn’t die. Yeah, the problem is you’re still alive. How is that a problem? That life insurance policy you have doesn’t pay your family unless you die. So now you have no job, no income, can’t work, and lots of bills.

Oh, man. Now what?

The solution is disability insurance!

Disability insurance will pay you if you get hurt or sick and can’t work.

Disability insurance is very important. Why? Your chances of dying before you get old are really pretty small, but your chances of becoming disabled are much higher.

There are lots of different options and lengths with these policies, but you get the gist of it.

So, the takeaway is to be careful climbing on ladders and that disability insurance will pay you if you get sick or hurt and can’t work.

The proceeding blog post is an excerpt from Get Money Smart: Simple Lessons to Kickstart Your Financial Confidence & Grow Your Wealth, available now on Amazon.

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About the Independent Financial Advisor

Robert Pagliarini, PhD, CFP®, EA has helped clients across the United States manage, grow, and preserve their wealth for the past 25 years. His goal is to provide comprehensive financial, investment, and tax advice in a way that was honest and ethical. In addition, he is a CFP® Board Ambassador, one of only 50 in the country, and a real fiduciary. In his spare time, he writes personal finance books, finance articles for Forbes and develops email and video financial courses to help educate others. With decades of experience as a financial advisor, the media often calls on him for his expertise. Contact Robert today to learn more about his financial planning services.

Reach us at (949) 305-0500