Is Disability Insurance Worth Buying?

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April 13, 2016

Ronald Hinch

Absolutely! Disability insurance will cover a portion of your salary in the case of a severe injury or sickness that keeps from working for an extended period of time. A good disability policy will usually have a 90 elimination period that will begin paying a certain percentage of earnings while off work. Although this is a good thing to have for all individuals but is especially important to the self employed.
September 30, 2014

Tim Wilhoit

The only time disability insurance is worth buying is when you become disabled. Otherwise it is a waste of money. The catch is no one knows when they can or will become disabled it is an absolute must in your financial planning. Statistically we are 8 times more likely to become disabled than to die at an earlier age. Disability insurance for those whose greatest asset is their ability to earn money is a must.

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