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Life insurance is an essential part of financial planning. One reason most people buy life insurance is to replace income that would be lost with the death of a wage earner.
With health insurance, you protect yourself and your family as medical care can be expensive. If you have insurance, many of your costs are covered by a third-party payer, not by you.
Disability insurance pays cash benefits to the policyholder in the event the insured is unable to work due to sickness or injury. That cash benefit ranges from 50% to 70% of income.
Long Term Care is the assistance individuals need when they are unable to care for themselves and need help with Activities of Daily Living or they have cognitive impairment.
It's a program for people age 65 or older, people with certain disabilities or those who have End-Stage Renal Disease (permanent kidney failure requiring dialysis or a kidney transplant).