When Should I Cancel My Disability Insurance?

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   Tim Wilhoit

   Owner, Your Friend 4 Life, Brentwood TN

   Unfortunately, most people cancel their disability insurance when they can no longer afford it but still need it. The only time a person should cancel disability insurance is when they no longer need it. Meaning, they do not have to work for an income to survive. So, when you are debt free and independently wealthy, retired or have a stream of passive income whether you work or not, that is the perfect time to cancel disability insurance, not before hand as the risk will still exist.

   Answered on October 3, 2014

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