Should I Add Disability to My Term Life Policy?

Article Posted by Expert Author: Adam Foley  on 04/24/2013


disability added to term life insuranceAlthough obtaining life insurance is one of the single most important things you will ever do, you have to consider that it may not be enough. Most people get a policy to make sure their loved ones will be well taken care of in the event of their passing, especially if they are the primary provider. You have to stop and think about what would happen though if you became disabled and were unable to work. Wouldn’t your family be in the same unfortunate situation financially? More and more people are adding disability to their term life policy every day, because they see the value in it. Hopefully you will never be in a situation where you need the policy, but if something happens, you will be forever grateful that you have it.

You may expect that adding disability would significantly bump your premium, but you will be surprised at just how affordable it is. Just make sure that when you compare life insurance quotes from different providers that you are actually comparing similar policies and terms to make sure you are getting the best deal. This type of insurance can provide you with a portion of your regular income, if you are either sick or injured and unable to work. Keep in mind that 3 in 10 workers become disabled before retiring, according to the Social Security Administration, Fact Sheet, 31 January 2007.

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