WEDNESDAY, NOVEMBER 2, 2022 Life insurance provides your beneficiaries a death benefit in the event of your passing. This means you can protect your family financially if you die. However, other serious situations could jeopardize your family’s financial security during your lifetime, particularly if they prevent you from working and bringing home an income. Life insurance doesn’t always protect these situations, but other insurance policies do. The following policies can protect your family financially if you face a life-altering condition. Cancer Insurance In many instances, people who are battling cancer find themselves unable to work — as treatment can be very time-consuming and draining. A cancer patient might have to quit their job to pursue treatment, forfeiting his or her employer's coverage. And without a regular income or employer-based healthcare coverage, cancer treatment costs can be prohibitively expensive. With a cancer insurance policy, you can get financial assistance with your medical expenses. Critical Illness Coverage

Americans battle with many types of critical illnesses that are not cancer, as well. Some of

these illnesses force them to have serious surgeries. Critical illness coverage typically covers medical emergencies, such as angioplasty, paralysis, or major organ transplants.

If you meet the conditions of a critical illness policy, you’ll likely receive a lump sum payment from your insurance. A critical illness policy can help you provide for your family and receive the treatment you need. However, it will also likely prevent you from using the living benefit of your life insurance policy. Short and Long-Term Disability Insurance People experience injuries all the time, both at work and in their free time. In some instances, they find themselves unable to return to work due to a permanent disability. In these situations, family members often struggle to make ends meet. Regardless of whether they have a savings account or not, this can easily lead to financial disaster. But there are resources available to deal with this issue. One way to protect your accounts from the effects of disabilities is by purchasing short and long term disability policies. These policies work to ensure your family has at least a portion of your income for a certain number of weeks. This can generally help you meet your monthly obligations without spending your savings. Accidental Death and Dismemberment Accidental death and dismemberment (AD&D) is another policy to consider. The policy pays you if you accidentally die or something dismembers you. An AD&D policy will financially secure your family if you die an accidental death. It might add an extra layer of protection to life insurance.