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Disability Insurance Why Do People Buy It?
By Ivon T. Hughes
Each person who buys disability insurance has his or
her own particular reason to get income protection
with their own disability insurance policy.
And these reasons differ widely. They all buy it to
protect their future income, but the reason that
triggers the purchase varies widely.
Over the years, people in all walks of life have bought
disability insurance but, looking at some records, I was
struck by how much the reasons differ. Here's a small
sample.
Disability Insurance: Reasons To Purchase
A heart specialist, age 38
Reason: The hospital provides none at the moment,
but I need disability insurance before I commence
doing surgeries.
Writer, age 46
Reason: I am self employed and must buy all my own
life and health coverage.
Lawyer age 33
Reason: We only have one income and if I become
disabled, the only income we will have will be from
disability insurance.
Veterinarian, age 29
Reason: To protect my income in event of injury, which
is not unknown in this profession.
Professional, age 36
Reason: Peace of mind. What if I wait that one day too
long; I'll think about disability insurance for the rest of
my life.
Consultant, age 46
Reason: Planning for the future. How can I do a
financial plan, when I don't know whether I can carry it
out?
Salesman, age 33
Reason: Protect family in the event I am unable to
work; I have no investments to produce income.
Sales Manger, age 40
Reason: It is simply part and parcel of what I need to
protect myself and my family.
Computer Programmer, age 36
Reason: To replace lost income in case I don't die in
the accident I always think is going to happen to me.
Neurosurgeon, age 58
Reason: Protection to the maximum please; disability
insurance and critical illness insurance are both
necessary.
Chartered Accountant, age 39
Reason: I deal with small business people and have
seen clients, lose homes and businesses as there is no
income from a disability insurance policy.
Manager, age 32
Reason: Just makes sense; disability insurance is the
only way to protect your income.
Web Programmer, age 34
Reason: In case I'm disabled for a long time, disability
insurance is the only income I'll have.
Dentist, age 42
Reason: I am in an occupation that is prone to injury; I
have no choice.
Electrician, age 40
Reason: I have no group disability insurance so I must
provide my own.
Plumber, age 36
Reason: Disability insurance, life and health insurance
are just part of the protection I need.
Jeweller, age 46
Reason: I am self employed and must protect my life
with life insurance and my income with disability
insurance.
Conclusion On Reasons To Buy Disability Insurance
You can see the triggers to buy disability insurance
differ greatly.
Please let us know what is your reason to have
disability insurance and we'll send you a Free Disability
Ebook. Send your reasons to info@hughestrustco.com.
About the Author
Ivon T. Hughes of The Hughes Trustco Group is the author of the Life Insurance Handbook: How To Get The Best & Cheapest Life Insurance available FREE to all new subscribers at http://www.hughestrustco.com.
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