I'm in my early 30's, do I need disability insurance and what should I be looking for?
2007-05-21 16:32:30 · 5 answers · asked by Alan K 2 in Business & Finance ➔ Insurance
How much should I expect to pay for benefits that cover 60% of my income after 90 days? Assuming I am healthy now
2007-05-22 05:25:09 · update #1
Yes, because it'll never be any cheaper.
The longer the waiting period ( time before benefits start is a big factor in determining cost.) No company will write 1st day coverage, but if you buy a policy with no benefits for the `1st 90 days, the premium drops like a rock. The monthly benefit can be a few hundred dollars, up to 60% of your pay.
How is your health?? If no problems, good. If you have a chronic long term condition such as arthritis, it might cause a problem.
If you're recovering from a broken leg, no big deal, but if you're recovering from cancer, that is a problem, at least for a while.
Also, your occupation is a factor. If you are, for example, an accountant, your premium would be lower than that of a bricklayer.
2007-05-21 17:05:09 · answer #1 · answered by TedEx 7 · 0⤊ 0⤋
1
2016-10-07 21:25:05 · answer #2 · answered by Laree 3 · 0⤊ 0⤋
You're more likely, at your age, to need disability insurance, than life insurance.
There are two basic types - short term, and long term. If you have an "emergency fund" with six months expenses, don't bother with the short term.
Be sure you've got a "usual and customary" employment clause, and a cost of living increase endorsement, on the long term. Keep in mind, most of the time you can collect on disability, you'll ALSO qualify for SSDI (independently - one does not automatically mean the other).
2007-05-22 02:01:02 · answer #3 · answered by Anonymous 7 · 1⤊ 0⤋
This "superb woman" at church of all places is making a fortune off of you in case you have an activity. you ought to insure your self, no longer your babies. they do no longer seem to be the breadwinners of the relatives are they? You insure the breadwinner, so if that guy or woman dies, something of the relatives has funds from a coverage to proceed a hopeful ordinary existence. additionally, an entire existence coverage is something you pay for all the existence, and it could value 5-10 circumstances as much as term in line with year for an identical insurance. you're tossing away funds so needlessly i'm surprised.
2016-11-04 23:04:09 · answer #4 · answered by boddie 4 · 0⤊ 0⤋
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2007-05-22 01:18:04 · answer #5 · answered by Anonymous · 0⤊ 0⤋