by Jamie Fleischner, CLU, ChFC, LUTCF
President, Set for Life Insurance
Many clients and potential clients ask the question “when should I buy disability insurance?” The answer is that you should buy a disability policy before you need it. Just like any insurance, your insurance policy must be in force prior to your claim.
If your house is on fire, it is too late to run out and purchase fire insurance protection. The same holds true for disability insurance. No one ever knows when or if they will become too sick or injured to work. Therefore, it is critical to purchase a disability policy before anything happens.
Additionally, it is important to purchase your policy while you are health. Once you have an adverse health condition, disability insurance can be very difficult to acquire. I have had numerous people contact take their time thinking about their options until it is too late. Just this week I followed up with a physician who had recently inquired about purchasing a disability policy. Unfortunately, last week he had a needle poke and is now HIV positive. He is now completely uninsurable for both life and disability insurance.
If you are thinking about purchasing disability insurance, don’t wait until it is too late.
For more information about disability insurance and to request a disability insurace quote comparison, contact the Set for Life Insurance office today.