The future is uncertain, so it’s important to prepare as best as we can for what life may bring. If you’re looking for guidance and answers to common questions about disability insurance, this information can help you get started and make the best decision based on your specific needs.
When you buy life insurance, you enter into a contract with an insurance company that promises to provide your beneficiaries with a certain amount of money upon your death. In return, you make periodic payments, called premiums. The premium amount is based on factors such as your age, gender, medical history, and the dollar amount of life insurance you purchase.
If you’re lucky, you’ve probably never had to use critical illness insurance. Perhaps you’ve never even heard of it. But in the event of a big health emergency, such as cancer, a heart attack, or a stroke, critical illness insurance could be the only thing standing between you and financial ruin.