Insurance
What would happen if your paycheck suddenly stopped because you were ill or injured and couldn’t work? Could you still pay your mortgage or rent and monthly bills? You could if you had long-term disability insurance. Disability insurance provides monthly income when you’re disabled and unable to work. Without coverage, a disability can deplete your savings or drive you into serious debt.
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There is risk involved with everything in life — from driving a car and cooking dinner to investing in stocks and playing sports. Maintaining insurance coverage provides peace of mind for your financial well-being. Here are the basics:

  • Buying Insurance: Individuals pay money (premium) to a company that provides insurance.

  • Filing a Claim: If you have an accident and you have adequate coverage, the company will be financially responsible for expenses, minus your deductible.

  • Reviewing Insurance Coverage: Review your insurance coverage annually, including automobile, homeowner, health, flood, and theft, to name a few.

  • Comparing Insurance: Quote several different companies to make sure you're getting the best protection for your money.

What types of insurance do you need? That's up to you. Determine whether you can afford to bear the financial risk associated with different mishaps. In general, those with insurance are more financially fit!
 

Disability Insurance :: Health Savings Accounts
Life Insurance Facts :: Long-Term Care Insurance

 

Brought to you by the North Carolina Association of Certified Public Accountants in cooperation with the AICPA.
©2007 The American Institute of Certified Public Accountants
 

Brought to you by the North Carolina Association of Certified Public Accountants as part of its financial literacy
initiative, a community outreach program dedicated to improving the financial standing of all North Carolinians.

The North Carolina Association of CPAs :: PO Box 80188 :: Raleigh, NC 27623-0188 :: (800) 722-2836 :: www.ncacpa.org