Is Disability Insurance Worth Buying?
10968 POINTSview profileTim WilhoitOwner, Your Friend 4 Life, Brentwood TNThe only time disability insurance is worth buying is when you become disabled. Otherwise it is a waste of money. The catch is no one knows when they can or will become disabled it is an absolute must in your financial planning. Statistically we are 8 times more likely to become disabled than to die at an earlier age. Disability insurance for those whose greatest asset is their ability to earn money is a must.Answered on September 30, 2014flag this answer
1976 POINTSview profileRonald HinchRegional Marketing Director, Capital Choice Financial Group,Absolutely! Disability insurance will cover a portion of your salary in the case of a severe injury or sickness that keeps from working for an extended period of time. A good disability policy will usually have a 90 elimination period that will begin paying a certain percentage of earnings while off work. Although this is a good thing to have for all individuals but is especially important to the self employed.Answered on April 14, 2016flag this answer
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