In today’s world we like to research and look up things we are interested in before we purchase them. We may look them up on the internet and ask friends/family. We like to know what other’s experiences are and what kind of recommendations we can be given. It makes us feel prepared and more knowledgeable about the product or service we are going to purchase or invest it.
When it comes to Income Protection Insurance, there are very specific tips you should know that will help you in your purchasing decisions. I hope they are useful to you.
Tips You Need To Know When Purchasing Income Protection Insurance
- Income Protection Insurance is also known as Disability Insurance. Don’t get confused by the two different terms. They are the same thing.
- The trick to Income Protection Insurance is investing in it before you need it. This means that you need to purchase it BEFORE you are ill or injured.
- You can’t purchase it after you are sick or hurt and can’t work.
- The younger and healthier you are may equal cheaper prices for you.
- Buy from a Disability Insurance agent. This way you can customize your own policy according to your lifestyle, budget, and other options.
- If you don’t buy it from an agent, look into also purchasing a Supplemental Disability Insurance plan.
- Income Protection Insurance comes in options of “short term” or “long term”. Research what both mean before deciding.
- You can cancel your Income Protection Insurance policy at any time.
The above tips are essential to keep in mind when purchasing Income Protection Insurance. But, the most important thing is that you have decided to purchase this type of insurance. It will financially protect you in the future if you are in a situation in which you can’t work and earn an income.
Our Disability Insurance agents can help you begin customizing a policy for you. Call us at (800) 788-8921 or full out our Contact Form in order for us to contact you.