Everyone knows that it’s not cheap to be sick. And for those facing a critical illness, mounting medical bills and being out of work can spell a financial crisis as well as a health crisis. It’s always best to understand beforehand where money might come from to help you and your family deal with something like this.

Disability Insurance Program
Health insurance: While health insurance will cover a portion of the direct costs associated with a critical illness, these plans typically require payment of deductibles, coinsurance and/or co-pays, which can range from $2,000 to $10,000 or more in out-of-pocket costs to you before the plan provides 100% coverage.If you elect out-of-network care from a specialist or nationally recognized hospital, you may face significant additional expense, plus the cost of travel and lodging. In addition, indirect expenses associated with recuperating from a critical illness, such as modifications to a home or vehicle, child-care expenses and convalescent care, may not be covered. It’s important for you to know what your health care plan will and will not cover before a critical illness strikes.Disability insurance: This type of insurance typically replaces a portion of your income if you are sick or hurt and unable to work. If you are covered by disability insurance, you need to know the answers to questions such as these:

How long must you be disabled before benefits begin?
How much is the benefit you will receive?
For how long will the benefit be payable?

Social Security benefits: Assuming that you qualify, Social Security disability benefits don’t begin until the sixth full month of disability and are generally not adequate to replace your earning power.
Savings and investments: A single critical illness could consume the assets you’ve worked a lifetime to accumulate.Ask yourself: If you suffered a critical illness and were out of commission for three to six months, would you be able to survive financially? If the answer is no, contact your disability insurance agent or financial adviser today.
Joseph Gruenfeld is a disability insurance agent working in Brooklyn New York. He is passionate about the importance of disability insurance and wants to make sure everybody knows the potential rewards disability insurance has to offer. Learn more at https://protectyourpaycheck.biz