Miami FL Life Insurance
Reader’s Question:
I am about to purchase a life insurance policy in Miami FL. What happens to my life insurance policy if I become disabled? Should I get coverage for my spouse and children too?
Mike
Miami, FL
Most life insurance policies include an optional rider that provides a “waiver of premium” for total disability. In the event that you become disables for certain period, typically 6 months or longer, most insurance companies will pay your premium for you until such time you are no longer deemed disabled.
It is a very good move to get coverage in Miami FL for your wife and children. Even if the deceased was not earning an income, loss of a spouse can bring significant financial strain to a family. Most often than not, the surviving spouse usually takes time off or changes jobs to be able to spend more time with the children. By getting coverage for your children, you policy will be able to cover final expenses and can guarantee insurability of your children’s future and immediate needs in case something happens to you.