Who Buys Disability Insurance?
- 11 POINTSview profileSteve BartholomewGeneral Manager, Wisconsin DI Center, Mequon, WIA person should consider buying disability insurance if he/she would suffer a financial hardship if an illness or accident were to interrupt or stop his/her earned income. This broad answer to the question would seem to include almost everyone who works and earns an income, certainly with some exceptions. Some people are provided this coverage from their employer, others who are self-employed (for example) would not be covered by a work-place plan. There are several ways to obtain coverage, which a trained professional insurance advisor would help sort through.Answered on October 23, 2013flag this answer
2180 POINTSview profileKelly MoserSocial Media Strategist, Disability Insurance Services, CaliforniaAlong with private individuals, as mentioned above, business owners purchase DI as well. The benefit covers utilities, employee salaries, rent, etc. Also, if a company relies on a specific employee, or if they'd lose a substantial amount of income if one employee could no longer work, Key Person or Key Man Disability Insurance can be purchased. The benefit would be paid to the company to offset the cost of hiring another employee, or to help with revenue while the employee recovers.Answered on November 11, 2013flag this answer
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