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  1. Protecting Against Disability

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    March 15, 2012 by Milton Jones

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    It is sometimes said that the Insurance Business is divided between those who insure Property Values and those who insure Human Life Values. What do we mean when we say Human Life Values? Life & Health Agents are fond of saying that we protect against the risks associated with Premature Death, Disability, and Old Age. One of them is sure to get you! We can’t insure that these things won’t hap- pen, but we can arrange to replace some of the lost income. It’s really a matter of Time and Money. We trade our time for money, and live on the money until we run out of time, or lose our ability to work. Of the three risks mentioned, Disability is often the most economically devastating. It sounds cruel, but if you die your family can bury you and get on with their life. If you’re disabled, your paycheck has died but you are still a consumer. Chances of becoming disabled are about three times higher than for premature death. A leading cause of fore- closed homes is disability of the bread-win- ner. So how can insurance compensate for a dis- ability? Different types of coverage include: (1) Liability settlements …

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