While browsing the internet this morning for Disability Insurance information, I found an interesting article that summarized the mistakes you might be making – depending on your age group. While it may be difficult to amend some of the mistakes you may have already committed, it would be worthwhile to examine what you did and how you can prevent certain mistakes in the age group you may be in or are approaching.
Age Is Just a Number Or Is It?
People in their 20s and 30s tend to make errors relating to health, car, and life insurance. But, there is one key mistake you might be making with Disability Insurance. Individuals in this age group tend to completely ignore their need for Disability Insurance. When individuals are in their 40s they tend to make the most money they ever have in their careers, which is a significant reason to protect what you are making.
What If Your Job Offered You Disability Insurance?
In addition, many people are offered only Short-Term Disability Insurance at their jobs, but these policies usually don’t fully protect the person and are often full of “holes”. Some may feel “safe” thinking that they will rely on Social Security and the fact is that the process to be covered by Social Security is long, drawn out, and can be full of stipulations. Most of the time what they give you is not nearly enough to cover your daily living expenses, so relying on this is not recommended..at all.
What Should I Do If I Am In My Forties?
Someone in their 4os would be wise to purchase their very own Disability Insurance from an experienced advisor. They will be able to customize their policy to their own lifestyle and budget. They will also have the benefit of having an agent/broker be able to answer their questions and educate them on disability insurance as a whole.
What If I’m Not Forty Yet?
If you are not quite forty, that’s an advantage to you. The sooner you invest in Disability Insurance the sooner you are protecting yourself if you were to get into a situation where you can’t work, like a car accident or get severely ill. It is never to late to protect yourself, your future, and your family.
To read the whole article, go to: http://www.washingtonpost.com/news/get-there/wp/2014/10/22/the-mistakes-youre-probably-making-with-insurance/
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