Thursday, June 25th, 2009 at
6:43 pm
Our society has made so many advancements in medicine and medical research that people are living longer lives.
Many diseases and injuries that would have meant death just a generation ago can now be treated and healed. The advancements are wonderful, but also very costly. For some people it is frustrating to know that the technology to improve their life is available, but it may not be affordable.
The insurance industry is trying to keep up with the medical advancements. This is difficult for them because their main reason for being in business is to make a profit. If they are paying out large insurance claims they make less of a profit.
In order to assure a strong profit insurance companies are starting to create compartment insurance policies for people to buy. One insurance that was not available to the generation before us is long term disability insurance. This insurance pays a portion of your income to you if you become disabled during your working years.
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