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Most people insure their car and home but many individuals forget to insure an equally important asset, their ability to work and earn a living. Insurance for this need is called Income Protection Insurance or Disability Insurance.
With most working people relying on their income to pay their monthly bills, Income Protection Insurance or Disability Insurance is recommended for all employed men and women. Income protection can often be bought through an individualâs employer or directly through an insurance agent.
Studies indicate that three-tenths of individuals are likely to become disabled and unable to continue to work at some point in their careers before reaching retirement age. Unfortunately, many people underestimate their chance of becoming disabled and not being able to work. The âit wonât happen to meâ mentality can affect oneâs ability to plan and prepare for the worst case scenario and thus leave an individual ill-prepared for crisis. Continue reading
