Читать книгу Personal Finance After 50 For Dummies - Eric Tyson - Страница 32

IN THIS CHAPTER

Evaluating your need for life insurance

Seeing why most working people need disability coverage

Making the most of your health

During your working years, especially your earlier working years, your future income earning ability is probably your most valuable asset. Consider that the typical person in his or her 20s and 30s has many years (decades, in fact) ahead to earn enough money to pay for current expenses such as food and clothing, transportation, taxes, medical bills, and vacations and save for the future. Unless you’re independently wealthy (or have a deep-pocketed relative ready to provide long-term care for you if you hit hard times), you should carry the proper types and amounts of insurance to protect yourself and your family if something occurs to you that would affect your ability to earn a living. In this chapter, our focus is on protecting income you’re earning while employed.

Insurance isn’t free, of course. And, like other companies, insurance companies are in business to turn a profit. So you want to make sure you obtain proper insurance protection at a competitive price and buy only the coverage you need.

In this chapter, we dive into the details regarding life and disability insurance you may need. Here we also discuss your employment income and how best to protect it. Finally, we also cover the importance of making the most of your health to minimize the chances of future insurance claims. If your health isn’t good as you enter retirement, you’re going to have more issues to face than just those dealing with your personal finances. So, getting your health in order is important.