Is Disability Insurance Recommended?
61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaYes, it is highly recommended. Unless 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
2180 POINTSview profileKelly MoserSocial Media Strategist, Disability Insurance Services, CaliforniaAbsolutely! One in eight workers will be disabled for five years or more during their working careers. Even if you have a substantial savings, the likelihood of you being able to maintain your lifestyle, on your savings alone, is quite small. You need disability insurance so that you can continue to receive a paycheck should an illness or disability occur. The probability is too high!Answered on August 15, 2013flag this answer
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