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Two of the most common coverages are disability and life insurance.
What Is Life Insurance?
Life insurance is a way to protect your family financially if you pass away unexpectedly.
When you become a life insurance policyholder, you pay regular monthly premiums to your provider.
What Is Disability Insurance?
Disability insurance protects you when you’re free to no longer work because of an illness or injury.
This coverage requires you to pay disability insurance premiums at regular intervals.
Understanding the differences will help you determine which throw in of coverage fits your needs.
Some important differences between the two include:
Why Buy Life or Disability Insurance?
When planning for your future, insurance helps you secure your finances.
Taking out an insurance policy helps protect you against unexpected events that can easily derail your finances.
You may want to take out life insurance for a variety of reasons.
Life insurance also covers end-of-life expenses like funerals.
Disability insurance protects you and your whole family when an unexpected event prevents you from working.
Purchasing insurance can be costly, but the security it provides is worth it for many.
Consider the current state of your finances and how unexpected occurrences would affect you and those around you.
Look into thedifferent insurance packagesavailable and see which would suit your circumstances.
There are situations where you may not need disability or life insurance.
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