In the last 100 years life expectancy has more than doubled, giving us more time to enjoy life’s pleasures. The medical advancements in health care are even more innovative now with the help of new technologies. And while increased longevity is a blessing, it also means more of us are at risk for developing a long-lasting illness, or disability, that will require additional financial support than we may have planned for previously.

An insurance policy that protects your quality of life in the event of unexpected health issues is Income Protection, also know as an Individual Disability policy. This coverage can assist you in paying bills while you are unable to work due to disability, or if you become unemployed due to your illness. You may think that is what Worker’s Compensation is for, but 95% of disabling accidents/illnesses are not work related, which means Work Comp wouldn’t cover you. Personal savings may not be able to sustain your needs for a prolonged period of time either, especially since a recent Federal Reserve study found that 47% of Americans wouldn’t be able to handle an unexpected emergency costing $400. Insurance is a safety net to use in case of emergencies, and protecting your paycheck is no different. Plan ahead for the what-ifs in life, so you can focus on recovering and get back on your feet sooner.

Life Insurance policies can also include supplementary financial benefits. This is accomplished by adding “riders” to your policy. The Care4Life Acceleration Rider is a popular addition, as it allows you to receive an advance on a portion of the total death benefit. This can be used to cover medical expenses, make modifications to your home, provide for help around the house, or even fund a trip with your loved ones. You can use the advance on the policy to fund your end of life needs, while still maintaining a death benefit for your beneficiaries to use towards your final expenses, as well as providing them financial stability and ease of mind after you’re gone.

Providing care for yourself or a loved one with a chronic, critical or terminal illness can be financially burdensome. Use these products to prepare and protect yourself, and them, from that possibility.