We recommend investing in disability insurance in Collingwood, ON, so you are able to receive the income needed to support yourself and your family members in the wake of an inopportune situation.
Chances are, you probably already have medical insurance, homeowner’s insurance, and auto insurance to protect yourself from life’s unexpected events. However, are you prepared to deal with the financial implications of becoming suddenly disabled and unable to work? At BlueRock Wealth Management Inc., we recommend investing in Disability Insurance, so you are able to receive the income needed to support yourself and your family members in the wake of an inopportune situation.
When it comes to selecting an appropriate amount of disability insurance, it is best to start by looking at your personal expenses. How much you spend every month to cover the necessities of life, like food and housing in Collingwood, Ontario, as well as discretional spending, like entertainment and shopping, can give you an estimate of how much you need your new disability insurance policy to cover. Our team of advisors can help you determine how much it costs to maintain your current lifestyle.
Another factor you should take into account is how much money you have in your emergency fund and how long you could live on this money if you became disabled. The amount of funding you currently have in emergency savings also plays a large role in how much disability insurance you need to buy.
If you have any questions about disability insurance, what it includes, and what type of policy you should acquire, at BlueRock Wealth Management Inc., we are always here to help. For more information about how we can assist you, please don’t hesitate to reach out to us.