For most people, buying life insurance is difficult enough, even when it’s done right. But when it is done with only one eye open, or haphazardly just to ‘get it over with’, mistakes are very common, and they can be very expensive.
It happens when you least expect it - a fall from a ladder, a skiing accident, a serious illness- no one plans to become disabled. As a result, very few people have set up contingencies for covering themselves when their income stops. Some people are under the mistaken impression that other insurance plans cover long-term disabilities.