When should you consider a disability income policy?

Do you earn income? Would your family suffer if that income suddenly stopped? If so, disability insurance is probably a good thing to have. You’re far more likely to become disabled for six months or more during your working years than to die. In fact, even at age 30 you have a 1 in 5 chance of becoming disabled for a year or more. Even one year without income could be devastating to your finances. At best, you may have to deplete your emergency savings. At worst, you won’t have enough saved up to cover all of your expenses during this time and have to resort to taking on expensive debt. In some cases, a long-term disability can even force people into bankruptcy.

When should you consider a long-term care policy?

We purchase homeowners insurance without thinking about it because our lender forces us to.  We also purchase policies on our vehicles because the government forces us to.  We pour over our health insurance options because we know we need affordable access to medical care.  Unfortunately, the one thing that we work our entire lives to build and maintain, our retirement savings, is often times left unprotected.  Long-Term Care Insurance can meet this very need and is surprisingly affordable to acquire.  

Contact Legacy Insurance Advisors today to speak to an expert about all of your rights and options when protecting your income and assets.