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Permanent disability can be financially catastrophic
I include in my columns a lot of information about the loss of life and the repercussions that remain for those left behind. The emotional loss can be overwhelming for a family. And the financial ramifications resulting from the loss of a breadwinner’s earned income can be devastating. Fortunately, many breadwinners carry life insurance to ease the financial pain that their death can bring. Another sort of loss can be even more financially catastrophic, that of total and permanent disability. It too causes the loss of a breadwinner’s earned income. But this can be worse than death because, frankly, the breadwinner is still consuming resources as part of the family’s cost of living, and life-insurance benefits are not forthcoming to lighten the load. Read more…
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