Daily Health News Blog

A long illness could derail even the best retirement plan. You may be a diligent saver, one who maxes out your 401(k) and IRA, but you probably haven't considered protecting your ability to earn money. Your earning power is more valuable than your savings or your stock portfolio. Not planning to protect it, even for a couple of years, would seriously alter your plans for the future. One in three employees age 25 to 65 will be out of work for three months or more because of an injury or illness, according to the Society of Actuaries. Accidents are not the main cause. About 90 percent of disability claims are for common illnesses and health conditions, such as back problems and cancer, according to a report by the Consumer Federation of America. Advisors quoted in Fortune recommend looking at your cash flow and your employment income and thinking about how well you would do if you couldn't work. Short-term disability insurance (sick leave) covers earnings for only a fe

You can make life easier and less expensive for your heirs if you provide them with these basic lists, say financial planning experts. * Bank and credit card accounts. List the name of each institution, type of account, the account number, telephone number and password for each. Tell where the account statements are. * If you have an attorney or financial planner, provide the person's name and contact information. * Make a list of recurring bills and loan payments. It's especially important if payments come directly out of a checking account. Tell heirs not to close accounts until arrangements have been handled. * List your life insurance policies and contact information so heirs can collect what they are due and cancel policies that are no longer needed. In this case, ask for premium refunds, which can amount to hundreds of dollars. * List all email addresses you use and account passwords if any. This will help heirs find bills you have and notify acquaintances of yo