Disability Insurance: More Important than Life Insurance?

Disability Insurance: More Important than Life Insurance?

Imagine the two scenarios below and think about your current situation.  Which would be more troubling?
Scenario 1:  The primary income provider in a household passes away leaving behind a wife and two young children.  He or she had a life insurance policy with a face value of $250,000 that paid the primary beneficiary after the death.

Scenario 2:  The primary income provider in a household became disabled and was unable to work. 
The spouse also worked but the income was supplemental to the primary income.  It wasn�t enough to pay the bills that came in each month.  The primary income provider didn�t have any disability insurance in place at the time of the disability.

If you consider your situation, which scenario would be the scariest for your family?  I know what my answer would be; number 2.  While both types of insurance are important, most folks only think of providing for their families after they are gone.  Sure, everyone wants to leave their families in a position to pay their bills after their death but what happens to the family if the bread-winner can�t provide for the family due to some type of accident or illness? This type of situation can leave a family destitute or struggling to make ends meet.  Just because you aren't able to work doesn't mean that the mortgage or utility bills stop coming.

Long and Short Term disability insurance policies are products designed for these types of situations.  For illnesses or accidents resulting in a disability ranging in time from 7 days to 6 months, you can take out a Short-Term Disability policy.  For illnesses and accidents resulting in a disability ranging from 6 months and longer, Long-Term Disability is the way to go.  A combination of both types of policies are recommended to help curb premium costs and provide coverage for you during these unexpected times.  The benefit you receive from these policies may not cover every bill you incur but it will make it easier to make up the difference than if you had no money coming in at all.  If nothing else, it will give you peace of mind that you can continue to live even when hardships arise.

Give us a call for more information regarding Long and Short Term disability.

813-964-7100

Or Visit our website for a quote:http://www.mintcofinancial.com/quotes/disability-coverage-quote/

Remember, the time to buy insurance is not when you need it most.