Disability
income insurance can meet all your financial needs
Author:
Ivon T. Hughes
Disability
income insurance can cover you in the event of a severe accident or illness
but, it really depends on how much disability income insurance you purchase
as to whether or not it will be able to meet all of your financial needs.
The greatest number of families have no form of disability income insurance.
Short
term disability income insurance covers the first few months you are disabled
and the benefits of short-term disability income insurance, are many . Short
term disability income insurance is a temporary relief though. If your condition
prevents you from working for more than the covered period, then you will
need to rely on long term disability income insurance.
Disability
insurance can be purchased up to a certain percentage of your income and
is tax free if you pay for it yourself.
Disability
insurance does not mean you have to take the maximum but you would be wise
to take sufficient to cover your monthly bills, even if you give up covering
some items.
Disability
insurance is sometimes hard to think about. Some people believe that if they
make a Will that it will bring them faster to their Maker. Ditto for disability;
take a policy and get disabled. But of course it doesn't work that way.
And
the worst thing to do is to consider taking a policy and then becoming disabled
before getting a policy in force. Disability insurance quotes will give you
firm premium figures for various amounts of income and then you can make
up your mind what to do. Even if you take a disability insurance policy with
the longest waiting period, it will start paying when you , really, really
need it.
Disability
insurance cost should be considered as a percentage of your income. If you
earn $60,000 a year is 2% or 3% of that too high a cost to ensure that your
net income will continue? Only you can answer that after you have obtained
a written disability insurance quote based on your income.
-----------------------------------------------------------------------
Ivon T. Hughes, The Hughes Trustco Group Ltd.
Online Insurance Broker - Get a FREE Quote TODAY!
Tel: (514) 842-9001 Email: info@trustco.ca
Web: www.hughestrustco.com
------------------------------------------------------------------------
