When I worked, I carried disability insurance. People often think about what would happen if the major bread winner were to die (life insurance), but rarely think about what would happen if the major bread winner were to become disabled. You typically qualify for governmental assistance, but it's not much.
If you don't make much, though, disability insurance usually isn't worth it. You're often better off in such cases to self-insure (i.e., put your own money aside), pray a bit, and hope that if worse comes to worst, between your savings and government disability you'll make it okay.
If you have a significant income, disability insurance is definitely something to look into. It can be expensive, but it can also be a God-send.
In my mind, disability insurance is primarily for long-term/permanent disabilities, but maybe the products/costs have changed since I was in the market, and that's no longer true.
If you don't make much, though, disability insurance usually isn't worth it. You're often better off in such cases to self-insure (i.e., put your own money aside), pray a bit, and hope that if worse comes to worst, between your savings and government disability you'll make it okay.
If you have a significant income, disability insurance is definitely something to look into. It can be expensive, but it can also be a God-send.
In my mind, disability insurance is primarily for long-term/permanent disabilities, but maybe the products/costs have changed since I was in the market, and that's no longer true.
