Title: Do I Need Disability Insurance? | Family Finance | US News
Headings: Do I Need Disability Insurance?
Do I Need Disability Insurance?
Your employer may offer disability insurance, but investigate its coverage limits and tax implications.
Read:
What Is Disability Insurance?
Long-Term Disability vs. Short-Term Disability Insurance
Is My Employer-Offered Disability Insurance Enough?
What Is Social Security Disability Insurance?
How Much Disability Insurance Do I Need?
How Much Does Disability Insurance Cost?
Who Needs Disability Insurance?
9 Ways to Reduce Your Insurance Costs

Content: What if a serious accident prevented them from ever working again? Would they be able to pay their mortgage? Would their kids still have a college savings account? Would they be able to retire? "Your ability to earn an income is your greatest asset, and if you don't cover that, all of those other plans are at risk," says Kamilah Williams-Kemp, vice president for new business at Northwestern Mutual. [
Read: Alternatives to Long-Term Care Insurance. ] Many people don't like to envision a life in which they become disabled and are unable to work, but there's evidence that they should consider their options. More than 1 in 4 of today's 20-year-olds will become disabled before reaching age 67, according to a fact sheet from the Social Security Administration. For many of those workers, the presence of a solid disability plan could spell the difference between maintaining their standard of living or diving into financial insecurity.