Does Private Disability Insurance Work?
61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaProvate disability insurance is paycheck protection against sickness or injury. While health insurance covers expenses and bills incurred for hospitalization, disability benefits pay you a monthly income generally tax free. Most Americans only have 90 days in cash reserves, so disability insurance is important. Make sure you have income ready to go for the unexpected events that occur in life.Answered on August 2, 2013flag this answer.JPG)
63333 POINTSview profilePeggy MaceMost of the U.S.Yes, private disability insurance does work. When a disability occurs, it pays you part of your income as designated in the policy. If you have disability insurance through work or receive Social Security disability insurance, it supplements that to give you a greater percent of your income. I have spoken with many people looking for life insurance who have developed MS, diabetes and other health conditions who are very grateful that they have private disability insurance income coming in.Answered on August 2, 2013flag this answer
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