Carrying adequate insurance coverage is one of the most important things you could ever do. Insurance is essentially a financial back-up plan that is designed to come through if certain incidences occur in your life. You may have medical coverage through your job or other means and possibly carry a life insurance policy as well. However, there are other types of personal insurance coverage that are just as, if not more, important than the aforementioned varieties. Read through the article below to learn about other essential types of coverage you may want to add to your insurance portfolio right away.
Disability Insurance Is There In A Pinch
Although you may be a fully able-bodied person right now, you never know what may happen in the future. You could get injured in a car accident and become disabled for an extended period of time. If this takes place, how will you support yourself? Do you have enough savings to see you through a long period if you aren't able to work? Taking out a disability insurance plan is an excellent way for you to secure yourself if the unexpected occurs.
Disability insurance coverage generally falls into two categories: long-term and short-term. It is considered personal insurance coverage because it generally covers incidents that take place outside of the work environment. A disability insurance policy will protect against the loss of income that you could sustain if you are not able to return to your place of employment for a long or short stretch. Having it can be a real lifesaver in an emergency!
Critical Illness Insurance Is A Must
If you have a family history of illnesses such as heart attack, cancer, or stroke, it is very important for you to obtain a critical illness insurance policy. Even if you have always been relatively healthy, there is always the chance that you will fall victim to a serious ailment. Your traditional health insurance plan only goes so far, and if the medical bills start to get out of control, you could quickly end up in financial ruin.
Critical illness insurance essentially pays the policyholder cash to cover the cost of the extra healthcare expenses that usually come when treating a catastrophic illness. Just having one of these policies can put your mind at ease.
Strengthen your personal insurance coverage with these policies for your protection. Talk to your insurance agent to see how you can get started today.