Ignoring Disability Insurance Can Be Troublesome For Any Person}

Ignoring Disability Insurance can be Troublesome for Any Person

by

Life Guard Insurance

It is a fact that all of us know the importance getting insured. While all most everyone of us have a term life insurance policy or a permanent life insurance policy to safeguard our future, we most of the time feel reluctant when advisors ask us to go for a disability insurance policy! We take it for granted that we would remain ever in good health! However, most of time it is a fact that disaster in disguise of accident strikes us. Touchwood, if accidents make us disable, our life can become full of troubles. So it is always better to opt for disability insurance, however, you have universal life insurance policy or something of that sort.

You should keep in mind that disability insurance covers much of a persons salary if he or she becomes unable to work. By chance, you become disable then you would require money to live while you are unable to work! But the moment you have a disability insurance, you can relax a bit as that would compensate your income to a good level, if not completely.

No one ever imagines to become disabled, but statistical report says that a part of human population in any country is counted in disable category. It is no harm to have a

disability insurance policy

; however, you have other policies like one permanent life insurance policy. Do you think it is very bad to own a policy that can keep you in little distant from having severe financial hardships after unfortunate disability. Now let us find out probable situations in which a person can fall into if he or she does not have disability insurance:

A sudden disability brings loss of Income. A health insurance policy can save a person for a certain level with the cost of the diagnosis, treatment and recovery. But think what you are going to do for the money you need to pay monthly for family expenses. Even if you are a businessperson, you would break your business capital for use only for some days, otherwise greater bad situation might be waiting to be faced. After recovery from accidents, you would not be able to join your work immediately, so you do not receive any income but your bills continue to rise. If you can opt for a disability insurance policy, you will have an option to receive some money to compensate loss of your income.

Just think about the life of a disable person who would desire to lead a happy and enjoyable life but for not receiving income, life would go dull. You would not be able to tolerate the decreasing quality of your life. Things become tough when you find that you cannot go out to a dinner or even have to think twice before going to watch a movie! Most disastrous situation can be the time when you could not spend money at Christmas time or for your childs birthday! Sometimes you have to think even for the premium of your

permanent life insurance policy

or term life insurance policy. You can easily avoid such situation if you have a disability insurance policy purchased earlier.

Well, the moment you have got the point how disability insurance can protect your interest, you have to take a wise decision to choose the right kind of policy according to your need. It does matter whether you are choosing a short term or long term policy, but more than that you have to know some terms and conditions at the time of taking a disability insurance policy.

You should go for a policy that cannot be easily cancelled. If you can opt for a policy that a service provider cannot cancel easily then you are more secure to get cover for a certain amount of time. Even you cannot cancel it anytime making you secure by default of the terms. You can also go for a non-cancelable plan, which is a renewable, makes you secure. However, the policy provider may raise their fees.

The next very thing is to know definition like “total disability”. There are some policies that marks terms as own occupation and any occupation. You need to have clear idea of these terms from insurance company. Generally, an own occupation means policyholder will get benefits if disability prevents doing the job that a policyholder was doing before disability. On the other hand, any occupation means, disability has to be highly effective or so severe that policyholder will not be able to work at all. If you remain clear of these terms, then you would be profitable for sure.

Again it will be a good decision if you can add some insurance riders with the policy you are taking. The riders would help you increase the covers But you need to be cautious about the terms and conditions of a plan. Read those carefully so that the service providers cannot deny you any benefit at the time of claim. Finally, you got to select a policy that you can run without feeling it as a burden while you would be managing other expenditures. It may be the case that you are already running some permanent life insurance policy or

term life insurance policy

. Everything is fine until you feel burden of those.

Well, hopefully have understood how choosing a disability insurance policy, you remain safe against any accidental situation. Now decision is yours. You just find out a reputed insurance advisor that can help you select the right kind of policy as per your requirement and capability. The aim of choosing any policy should be to remain save and tension free against the unforeseen situation of life.

Life Guard Insurance is a renowned insurance advisor in Canada. We have been providing the right kind of policies according to the needs of people. We have all the best permanent life insurance policy, term life insurance policy, disability insurance policy,

universal life insurance policy

to offer our customers. Anytime you need advise on insurance policies, feel free to contact us.

Article Source:

eArticlesOnline.com}