I heard that disability insurance is sometimes more important that life insurance. Is this true?
ANSWER:
It depends. Disability insurance is very important, and you should get as much as you can. If you were suddenly unable to work and your income disappeared, then the effect on you and your family could be very detrimental, financially and otherwise. In addition, you need life insurance if people are dependent on your income for their survival. As you get closer to retirement and you have accumulated substantial assets, life insurance becomes more important for estate planning reasons. The bottom line is that most people need the maximum amount of both types of coverage. You should consult an advisor to determine if you have adequate coverage and what you can do to fill in the gap.
Life
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.
