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 Posted: Fri Mar 03, 2006 4:40 am Post subject: Is Disability insurance a priority ? |
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Guys, for the past couple of months my wife is stressing on me to get a disability coverage for myself. Now I would like to ask you a truely relevant question. Is disability Insurance coverage a priority amongst all your other insurance coverage?
Regards.
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hammer
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| Posted: Fri Mar 03, 2006 8:27 am Post subject: a priority |
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My Friend,
I firmly believe that Disability insurance should come as a priority in your life today. This is quite certain since your life itself gets directed by your ability to earn and then meet the needs of your daily life. Incase you don't earn, it would not take much time for you to exhaust your savings, properties and finally turn insolvent. Its much better to take a job worth $98,000 a year paying you as long as you are disabled, rather than a job worth $100,000 a year flat. It is advisable that you take the former than the latter.
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shicu
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| Posted: Fri Mar 03, 2006 11:39 am Post subject: Re: I am in a fix |
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I am involved in selling of Disability Insurance to my clients for long. It seems quite reasonable to get associated with an organization that takes care of both your health and unforeseen disability . A job worth $98,000 a year would ensure a tax-free coverage worth $58,000 a year for any such occurrence of you getting disabled. Just as Life Insurance plays a key role in supporting your family when you are not there, likewise Disability Insurance guides them through their tough times even when you are very much a part of that crisis.
Ross.
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Ross
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| Posted: Fri Mar 24, 2006 5:20 am Post subject: |
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depends on many factors. insurance is a complete waste of money until you need it...i personally sleep better at nite knowing i have it b/c you just never know.
my thought is have a savings for at least 2-3 months expenses. most short term di will take a while to get paid and they dont pay 100 percent anyway. also the longer the elimination period the cheaper. short trem is can get expensive b/c most disabilities are 0-90 days. also if you dont want to pay the expense of short term di, get long term...its usually cheap and you can self insure the gap before the long term picks up.
i recommend having it, I was 22 yrs old fresh into insurance when I fractured my knee in a freak accident. I was out for 4 months, new job and new marriage, i didnt think i needed disability ins, and no money was tough. educate yourself and shop around. hope my 2 cents was helpful. |
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mbyork
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Joined: 24 Mar 2006
Posts: 11
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| Posted: Fri Mar 31, 2006 8:00 am Post subject: just wanna add to you ! |
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I could empathize with your view towards life ! I understand that the probability of filing a claim is more with your other insurance policies...
But disability insurance is none the less important because of the overall effect it brings at the occurrence of such an event that might turn a person physically inactive for good ! |
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roddick
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Joined: 05 Oct 2005
Posts: 468
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