Why Do We Need Disability Insurance?
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaYour earning power over a lifetime is extremely significant. The odds of becoming disabled an average of 30 months during your life time is almost a probable event. Disability insurance is paycheck protection. Everyone should who has earned income should have it/ Keep in mind that in addition to disability insurance for earned income, you can also secure coverage for your retirement contributions as well.Answered on June 2, 2013+01+1 this answer
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61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaWe need long term disability insurance to cover prolonged periods of illness and injury by generating tax free income from the benefits of the policy. Benefits do not begin until the elimination or waiting period has been satisfied. Protecting your income when you can't work is an important part of defensive planning.Answered on August 15, 2013flag this answer
2180 POINTSview profileKelly MoserSocial Media Strategist, Disability Insurance Services, CaliforniaIf you became ill or disabled, how long do you think you could sustain your lifestyle without a paycheck? For most Americans, the typical answer is about 6 months. We don’t think twice about insuring our cars, homes, boats or health, but we forget that our most important asset is our PAYCHECK. Disability insurance is a fancy way of saying “paycheck protection.” We need disability insurance so that we can continue receiving a paycheck should an illness or disability strike.Answered on August 15, 2013flag this answer
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