Life Insurance For Disabled: Understanding Your Options

Talking about life insurance for disabled  people can be a little tricky, especially since there are so many different types of disabilities. However, this article breaks down the difference between various types of disability and the resources that you may need to learn more about them.

Most people think of life insurance when they think about death, but it can also protect you if you become disabled.

Life insurance is a financial protection plan that pays out a death benefit if you die as the result of an accident, disease, or other cause. The death benefit can be used to help your loved ones pay off your debts and cover your expenses.

There are several types of life insurance, including term insurance, whole life insurance, universal life insurance, and variable life insurance. Each has its own benefits and drawbacks. Here’s a look at some of the key factors to consider when choosing a type of life insurance: 

Term Insurance: Term life insurance is typically the most affordable option and has low premiums but offers minimal protection. If you die within the first few years of your policy, the death benefit may not be enough to cover your costs. Term policies expire after a set period of time (usually 10 or 20 years). 

Whole Life Insurance: Whole life policies offer the most comprehensive coverage possible and have the highest premiums but also offer the longest term (typically 30 or 40 years).