Do I really need an individual disability policy?
ANSWER:
If you want an income that will allow you to keep paying your mortgage or providing for your family whether you qualify for SSI or not, you want disability insurance. National statistics tell us that if you are under the age of 40, you are much more likely to become disabled than you are to die. People who become disabled at an early age often face a lifetime of privation, embarrassment, and sometimes even homelessness. Knowing that you will have an income if an unforeseen illness or accident happens to you will give you and your family peace of mind.
If other people like your spouse, your children, or your parents are depending upon you as a breadwinner, then your disability can affect their lives in many tragic ways. Your children may have to give up their dreams of completing high school or college; your spouse may have to work full-time even though you'll need care at home. Many families have had to sell their homes or declare bankruptcy after a breadwinner becomes disabled.
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Health Savings Accounts
You can use this account to pay for your qualified health expenses, including expenses that the plan ordinarily doesn’t cover, such as eyeglasses and hearing aids.
Expenses paid out of the HSA that are eligible expenses under your high-deductible health plan will count toward the plan’s deductible.
