Title: Is Disability Insurance Really Necessary? - 2020
Headings: Is Disability Insurance Really Necessary?
Is Disability Insurance Really Necessary?
David Racich PRO
Kevin Haney
Jason Goldenzweig PRO
Larry Gilmore PRO
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Content: Is disability insurance protection with 5-8 % of your pay? You make the call! Answered on June 19, 2013
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Kevin Haney
A.S.K. Benefit Solutions, New Jersey
Disability insurance is not necessary if you have enough savings to fund your lifestyle. Many people have student loan payments, mortgages, property taxes, and car notes along with expenses to feed and cloth their families. Plus, if the primary breadwinner is disabled there may be additional medical expenses. If you can afford to meet these ongoing obligations without an income, then you don't really need a policy. Answered on August 7, 2014
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Jason Goldenzweig PRO
Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
I would say yes. Your ability to earn income is likely your biggest asset, so what would you do if you lost that ability? Some important things think about when trying to figure out if disability insurance is right for you is: