Why Is Long-Term Disability Insurance Important?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Long Term Disability Insurance is important because most people do not have enough savings to cover being off of work for over 3 months or more. The benefits of Long Term Disability Insurance can pay until retirement, if you get that type of plan. If someone were to become permanently disabled in their younger to middle age years, that is a lot of years of income coming in. Without that income, many years of living on only Social Security Disability can cause financial devastation to even the wealthiest of families.
    Answered on September 20, 2013
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