Wednesday, December 23, 2009

Does anyone have advice on insurance for a personal loan?

I have just taken out a person loan, I'm worried that if got sick and couldn't work I would not be able to pay the loan. I do not understand insurance and tried going to google but just got more confused. Thanks for your help.Does anyone have advice on insurance for a personal loan?
You're looking for short-term disability insurance. Sometimes, it is offered through employers and (in the U.S.) state disability insurance is also available. Not sure you're going to find any affordable private insurance.Does anyone have advice on insurance for a personal loan?
You can purchase disability insurance to cover you if you become sick or injured.





Short term disability would cover you for the first three months you are unable to work due to an injury or illness, while long term disability would typically cover you after 90 days.





In the event that you meet the policy's definition of ';unable to work';, the policy would pay you a portion of your income.





You can lower the cost of the insurance by buying a plan that would not pay for the first week or two that you miss.





Many employers offer this coverage, and AFLAC is one of several companies that offers disability policies. This is their website: http://www.aflac.com/us/en/Default.aspx
Your worry has worth, but you can attach a Term life insurance plan to protect you from any unforeseen circumstance. It is cheapest and usually purchased against liability of life.
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