Disability Insurance Why Do People Buy It?
By Ivon T. Hughes
Each person who buys disability has his or her own particular reason to get income protection with their own disability policy.
And these reasons differ widely. They all buy it to protect their future income, but the reason that triggers the purchase varies widely.
Over the years, people in all walks of life have bought disability but, looking at some records, I was struck by how much the reasons differ. Here's a small sample.
Disability Insurance: Reasons To Purchase
A heart specialist, age 38
Reason: The hospital provides none at the moment, but I need disability before I commence doing surgeries.
Writer, age 46
Reason: I am self employed and must buy all my own life and health coverage.
Lawyer age 33
Reason: We only have one income and if I become disabled, the only income we will have will be from disability insurance.
Veterinarian, age 29
Reason: To protect my income in event of injury, which is not unknown in this profession.
Professional, age 36
Reason: Peace of mind. What if I wait that one day too long; I'll think about disability for the rest of my life.
Consultant, age 46
Reason: Planning for the future. How can I do a financial plan, when I don't know whether I can carry it out?
Salesman, age 33
Reason: Protect family in the event I am unable to work; I have no investments to produce income.
Sales Manger, age 40
Reason: It is simply part and parcel of
KPD Insurance Agency Merges With Jones Kendall SauerKPD, an Oregon based insurance and risk management company, has merged with Portland insurance agency Jones Kendall Sauer. The insurance office will be located at One Lincoln Center near ...NAS Appoints Hayase to Senior UnderwriterEncino, Calif.-based NAS Insurance Services has promoted Allison Hayase to senior underwriter for the company's Healthcare and Social Services facility.
For the past five years, Hayase has ...Zurich N.A. Names Dunai to Lead Environmental UnitZurich North America appointed Julie Dunai as head of its Environmental unit. In this role, Dunai will oversee all aspects of the unit's operations, which deliver insurance solutions addressing ...
what I need to protect myself and my family.
Computer Programmer, age 36
Reason: To replace lost income in case I don't die in the accident I always think is going to happen to me.
Neurosurgeon, age 58
Reason: Protection to the maximum please; disability and critical illness are both necessary.
Chartered Accountant, age 39
Reason: I deal with small business people and have seen clients, lose homes and businesses as there is no income from a disability policy.
Manager, age 32
Reason: Just makes sense; disability is the only way to protect your income.
Web Programmer, age 34
Reason: In case I'm disabled for a long time, disability is the only income I'll have.
Dentist, age 42
Reason: I am in an occupation that is prone to injury; I have no choice.
Electrician, age 40
Reason: I have no group disability so I must provide my own.
Plumber, age 36
Reason: Disability insurance, life and health are just part of the protection I need.
Jeweller, age 46
Reason: I am self employed and must protect my life with life and my income with disability insurance.
Conclusion On Reasons To Buy Disability Insurance-
You can see the triggers to buy disability differ greatly.
Please let us know what is your reason to have disability and we'll send you a Free Disability Ebook. Send your reasons to info@hughestrustco.com.
Ivon T. Hughes of The Hughes Trustco Group is the author of the Life Insurance Handbook: How To Get The Best & Cheapest Life Insurance available FREE to all new subscribers at
www.hughestrustco.com
Here are some more insurance articles...
