How To Replace Earnings While On Disability
Consider New Uses Of Your Assets
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Look at all your assets to consider whether you can increase the income from then.
When thinking about whether your assets can produce an income for you, consider:
Bank Accounts
Check to see whether there are insured accounts which will pay a higher rate of interest. For example, check www.bankrate.com
Real Estate
You can rent all or part of your residence, even if only renting a bedroom as a bed and breakfast.
Life Insurance
Perhaps you can obtain money from your life insurance policy while you are alive.
Credit
Credit may provide money if you need it. If you use credit while on disability, it is preferable to use credit cards that have life insurance attached which will pay off the debt in the event of your demise.
Stocks, Bonds And CDs
You can borrow against these financial instruments while retaining ownership.
Retirement Accounts
You can borrow from most retirement accounts. It is also possible that you will be able to make withdrawals without penalty due to your health condition.
Getting A Bulk Amount From An Income Stream
It is possible to get a bulk amount of cash from an income stream. For example, if you have a contract which unconditionally guarnatees to pay you $10,000 a year for the next five years, financiers will give you a cash settlement today in return for assigning the income to them. If this alternative is of interest ask your banker for sources, and/or search on key words "Structured Settlements" in your favorite search engine.
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New Uses Of Assets