Does Disability Insurance Make Sense?
- 61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaUnless you have significant savings set aside for 30 months or so, you may need to consider disability insurance. The average disability can run 30 months. Most working Americans have 90 days in cash reserves. Is it important to have a paycheck coming in? Disability insurance is paycheck protection.Answered on August 15, 2013flag this answer
- 21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasThat is a great question! There are many kinds of insurance out there, so it can become confusing what we should really spend our hard earned money for, and what we should pass on. If your employer offers disability, take it. Nearly 60% of the bankruptcies worldwide are the result of a medical issue. Good health insurance, and a good disability policy can make the difference between you, and another statistic. Please get with an agent or your HR person, and get a policy that works for you. Thanks for asking!Answered on June 12, 2014flag this answer
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