Most people buy insurance to protect important aspects of their life. They buy policies to protect their families, homes, and cars. But, is there something that can protect your finances in the event that an illness or injury prevent you to work? This is when short term and long term disability insurance come into play.
While your employer has provided you with health insurance, it may not cover all the bases. There are certain medical issues that require more coverage. You can purchase limited insurance benefit, which acts as a supplement to your coverage. It covers stays in the hospital and bills from doctors.
Do you have a child, spouse, or other family members that are dependant on you as a source of income? What will happen to them once you pass away? There is no better way to protect them from such event by having a life insurance policy. Provide your family with financial safety to pay for a wide range of living expenses.
It is both possible and legal to own more than one life insurance policy from a single or multiple insurer. However, is it really necessary to have multiple policies? Isn’t it simpler to just have a policy that covers everything? While this may not be the case for everyone, a lot of people find it beneficial to get multiple life insurance policies. Here are two scenarios where multiple policies become very useful.