How Long Should You Keep Disability Insurance?
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaMost long term disability policies cover to age 65. If you’re still working and younger than age 65, you should maintain your coverage. What is more important that insuring your paycheck if you’re without the means to self-insurance? The average American worker has 90 days of cash reserves. What is that against the average disability period of 31 months?Answered on July 4, 2013+01+1 this answer
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5877 POINTSview profileStan Cox IIInsurance Adviser - Broker, SC Insurance Services, Oahu, HawaiiDisability insurance is actually Income Disability Insurance, so the purpose of the insurance is to insure your income continues when you become unable to work. It actually doesn't replace 100% of your income, but usually about 60%. So once you retire the purpose of the disability insurance has gone away. That is you no longer are working for your income, so you no longer need the insurance.Answered on August 9, 2015flag this answer
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