You may be thinking, “How will Disability Insurance prevent me from losing my home?” And the truth is that these 2 are very closely related. Investing in this type of insurance will not only prevent you from facing home foreclosure, but also protect your financial future in several ways.
How Are They Related?
When you are facing an illness, injury, or disability that doesn’t allow you to work, your income stops. Without an income, you will not be able to pay for your:
- Mortgage payment
- Daily bills
- Child care
- Car payment
- Entertainment, etc.
When families are having difficulty paying for their needs, they often:
- Take money from their savings account
- Open new credit cards and max them out
- Borrow from friends and family
Even by doing these things, families go through very difficult times in trying to keep up their standard of living without an income.
By having Disability Insurance, it will provide you money when you aren’t working to be able to pay for your needs, especially for your house.
Protecting Your House
Investing in this type of insurance now will help tremendously, later. Having money while you aren’t working will be a lifesaver because it will prevent you from using your savings, maxing out your credit cards, and asking others for money.
By having this money, you will continue paying for your mortgage, which means you will be able to keep your house for your family.
You will keep receiving this money according to the terms of your policy. But, it is worth knowing that many policies will pay for up to 2 YEARS while you aren’t able to work.
Disability Insurance: Protecting Yourself, Family, and House
You are able to protect yourself, family, and house by purchasing a Disability Insurance policy. The key to this coverage is having it before you need it.
Our experienced advisors can help design a policy for you according to your needs, lifestyle, and budget. To get started, call us at (800) 788-8921 or fill out our brief Contact Form to be connected with an advisor.