We talk a lot about health insurance (to pay the docs and hospitals) and life insurance (to pay the funeral home and provide funds for those left behind), but we don't write a lot about disability (or income replacement) insurance. This valuable, but undersold and underbought, coverage can help put food on the table and keep a roof overhead if one is seriously hurt or ill.
Many people believe - erroneously - that Social Security is all the safety net they need. Of course, a lot of folks also believe - erroneously - that Medicare will pay for their long term care needs. Neither of these are really true in practice, which is why it's so important to understand what disability insurance can (and can't) do, and how much one might need.
Fortunately, the folks at the Life and Health Insurance Foundation for Education (LIFE) have set up a helpful, easily navigable website so folks can get a clear picture of how this kind of coverage works. Called LifeHappens, there are all kinds of tools and resources available, including videos like this:
Do check it out.
Many people believe - erroneously - that Social Security is all the safety net they need. Of course, a lot of folks also believe - erroneously - that Medicare will pay for their long term care needs. Neither of these are really true in practice, which is why it's so important to understand what disability insurance can (and can't) do, and how much one might need.
Fortunately, the folks at the Life and Health Insurance Foundation for Education (LIFE) have set up a helpful, easily navigable website so folks can get a clear picture of how this kind of coverage works. Called LifeHappens, there are all kinds of tools and resources available, including videos like this:
Do check it out.
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