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Preparing for Worst-Case Scenarios: Choosing the Right Insurance Policy to Protect Your Income

NerdWallet's Smart Money Podcast

CHAPTER

Understanding Life and Disability Insurance

This chapter explores the distinctions between term life insurance and whole life insurance, emphasizing the financial implications of each. It then shifts focus to disability insurance, discussing its importance in providing income replacement during periods of incapacity due to illness or injury. The discussion also covers various aspects of insurance policies, highlighting complexities in employer-provided plans, the necessity of private policies, and additional supplemental coverage options.

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