Most people take it for granted that they are able to awake each day and earn an income to support themselves and their family. The ability to be independent in this regard is one of your most valuable assets. Additionally, most people do not understand that the chances of becoming disabled at some time during their working career are higher than they would imagine. Hence, disability insurance is available to protect your assets.
Disability insurance is insurance that is intended to replace your income if you should become sick, disabled, or hurt, and the illness or accident prevents you from earning an income in your occupation. Disability insurance will pay anywhere from 45% to 60% of your gross income during your absence from work.
It is important to note however, that not every policy is the same. Carefully scrutinizing the details and comparison-shopping is necessary when shopping for disability insurance. The least expensive policy is not necessarily a good choice. The odds of being paid a monthly benefit that will cover your cost of living while you are disabled are not improbable if you have purchased a low-cost insurance policy.
The purpose...