what insurance options for death or disability?

Posted in Cheap Life Insurance over 2 years ago, 1 reply

my brother and his wife rent an apartment in Wisconsin. They are worried that if there is a fire or something they will lose all of their valuable stuff. In addition they have some concerns about what happens if one of them dies or becomes disabled and what if they have medical costs.

can you explain to them what insurance options they have and make some recommendations to them.

submitted by zack in wisoconsin

Fire insurance will take care of your brother’s concerns about loss of valuables due to a fire, and health insurance will take care of most of their health problems. For life insurance and their worry about ending up disabled, I would recommend term life insurance with a disability rider. Term life insurance is very affordable. Since their expenses include house rent and possibly will include 2 – 3 insurance premiums as outlined in your question, term life will help them to minimize their monthly outlays, but will still buy them a substantial death benefit. A disability rider in their term life policy is especially useful if one or both have physically demanding professions. In the event of a disability, the disability rider will pay them a pre-determined amount of income after they have been disabled for a specified amount of time.

Denise

submitted by Denise @ April 15, 2010 - 09:09 AM

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