Disability Income Insurance

Written by Patricia Tunstall
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Disability income insurance comes in many forms and policies, but all are designed to replace a portion of your income should you be unable to work. Everyone needs income protection. Why? Because few of us are wealthy enough to continue our lifestyle without any money coming in. Most of us could not continue paying our bills if we were off work for very long.

What if you were disabled because of illness or injury for two months, eight months, or longer? You could use up your savings, or borrow, or run up your credit cards, but what then? Not only is your income stopped, but now you are in debt!

Affordable Income Protection

Everyone wants the best disability insurance rates, but one set of rates does not suit everyone. What is best for you may not be best for your neighbor. What your co-worker can afford may not fit your budget. One fact stands out and applies to all workers, however--rates for disability income insurance will be cheaper if you sign up for it now.

If you are healthy and have a reasonable income, you will be able to get the best rates from the best insurers. On the other hand, if you wait until you must have disability insurance to survive because of illness or injury, your pre-existing condition will put you at a disadvantage. The risk to the insurance company rises, and so will your premiums.


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