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FINANCIAL SUITS OF ARMOR

n the previous chapter, we discussed the need for and types of life insurance. Insuring your life, to help protect your depen- dents and family in the case that you die prematurely is very important. But, there are other types of insurance that are equally important that you may use while you are still living. One of the main cases against life insurance is that, generally, the person who purchases the policy is the one who will never receive its benefit. That is, the person who pays for the contract is, generally, the one whose life is insured, and therefore, the death benefits won’t be paid until after the person has died. But there are two main types of insurance that are designed to be used by the insured while they are still living: disability and long-term care insurance. I

Disability insurance is designed to help replace a person’s income if that person is injured and becomes unable to work and earn

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Copyright 2003 by Charles G. Zhang and Lynn L. Chen-Zhang. Click Here for Terms of Use.

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