| In this article today I would like to discuss several tips, | | | | of which will need to live. |
| tricks, and techniques that you can use to make sure | | | | If you've already planned for your retirement then you |
| that you are able to continue paying your bills if your | | | | don't need to factor that in to your disability policy. |
| income stops due to an illness. | | | | Therefore you only need your policy to cover you |
| The recession that started in late 2008 and has | | | | during your working life. If however, you have not |
| continued into 2010 has made it particularly hard for | | | | factored in or began saving for retirement, then make |
| many Americans to get by. Even for those of us who | | | | sure your policy pays out enough money for you to |
| are lucky enough to still have a job, the cost of | | | | save for retirement as well. |
| everything seems to be rising from day to day making | | | | Next, make sure your policy has as short a waiting |
| it harder to make ends meet. What would you do if | | | | period as is possible before you begin receiving |
| you suddenly found yourself out of work because of | | | | benefits. The shorter a waiting period, generally |
| an illness that you have no control over? That's what | | | | speaking, the higher price policy will be so here is a fun |
| I'd like to talk about today. | | | | little strategy that can save you money... |
| In my opinion, everybody should have disability | | | | Purchase a policy that has a 90 to 120 day waiting |
| insurance yet hardly anybody ever talks about it. First | | | | period. I realize that is 3 to 4 months and many people |
| of all, what is disability insurance? Quite simply it is | | | | can't afford to wait 3 to 4 months in order to start |
| insurance that pays you when you become disabled | | | | receiving benefits. The trick here is to save up yourself |
| and can no longer work. | | | | right now 3 to 4 months worth of living expenses and |
| What makes a good disability insurance policy? Well | | | | that may be cheaper than the extra expense of |
| let's talk about that... the first thing you need is a policy | | | | premiums you will pay over time buying a disability |
| that covers at least 40% or better yet 60% of your | | | | policy with a shorter payout period. |
| take-home pay. When I say take-home pay I mean | | | | So there you have several tips, tricks, and techniques |
| the actual money you take-home. The benefits that | | | | that just about anybody can use to make sure your |
| you get from disability policies are usually tax-free. The | | | | bills continue to get paid even if you lose your job due |
| more money your disability policy pays out the better, | | | | to a sudden and unexpected illness. A little planning in |
| but the more money it pays out, the more expensive | | | | advance can go a long way and save you a lot of |
| the policy will be so a good rule of thumb is 40 to 60% | | | | heartache and misery. |