1. 10968 POINTS
    Tim Wilhoit
    Owner, Your Friend 4 Life, Brentwood TN
    It really depends on two main factors as to whether you need additional disability coverage. The maximum amount of benefit to be paid under a disability plan cannot exceed 70% of your current income. Therefore, if you have enough short term and long term disability to cover the 70%, some policies pay less 50% to 67%, then you have enough. If you find your maximum benefit is less than those percentages, then yes you should consider purchasing additional coverage.
    Answered on August 28, 2014
  2. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    If your income has gone up since you purchased your disability insurance policy, and if your spending has gone up along with your income, yes, you probably should buy additional disability insurance. Disability income insurance never completely replaces your income, so you would already be adjusting to living on approx 60-70% of your normal income, should you become disabled and need to tap into the policy benefit. If your original policy doe not have a COLA rider, your benefit will stay the same, regardless of your income at the time you become disabled. So having additional coverage may be necessary just to pay the basic bills in your home.
    Answered on September 6, 2016
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