Is Long Term Disability Insurance Needed?
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63333 POINTSview profilePeggy MaceMost of the U.S.Long Term Disability Insurance is needed for anyone whose income is essential to maintaining their home, business, or standard of living. Workers may have enough savings to carry them through a few months to years of being disabled, but there are usually also medical expenses involved that can rapidly deplete savings and investments. The chances of a woman being disabled at some point before retirement age are 1 on 3, and the chances of a man being disabled at some point before retirement are 1 in 4. So Long Term Disability Insurance is a valid need and more common than most people realize.Answered on May 25, 2013flag this answer- 63333 POINTSview profilePeggy MaceMost of the U.S.Long Term Disability Insurance is needed by most people because most people need their paychecks to maintain a desirable standard of living. Being laid off for over 3 months due to illness or injury can happen to anyone. Long Term Disability Insurance pays you a portion of your paycheck to get you through extended periods of disability.Answered on August 15, 2014flag this answer
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