How Much Long Term Disability Insurance Should I Have?
10968 POINTSview profileTim WilhoitOwner, Your Friend 4 Life, Brentwood TNIt really depends upon how much you have in savings but I would suggest purchasing the maximum amount. You may purchase up to 70% of your current income to replace your earnings in case of an illness or injury that medically disables you from performing your duties in your occupation. If you have a large nest egg to tap into in case of becoming disabled, then you can purchase less.Answered on August 10, 2014flag this answer.JPG)
63333 POINTSview profilePeggy MaceMost of the U.S.Add up your monthly expenses for rent or mortgage payments, food, child care, utilities, entertainment, transportation, etc. How would these things get paid if you became disabled? Whatever amount is needed to cover your bare expenses should be the amount of Disability Insurance you purchase, if possible. If you are able to get more, and can afford more, it would not hurt to go up to the max as you would also have medical bills to pay if you were to become disabled.Answered on August 11, 2014flag this answer
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