Who should have disability insurance? Anyone earning an income - Business Insider

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If you have a job earning income, then you probably need some amount of disability insurance to protect your ability to earn money

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, but our reporting and recommendations are always independent and objective.

.Insurance policies can be extremely expensive, and they all represent something you might need to have but hope never to use — because if you need it, something probably went wrong., for example. You might need it … but if you have to use it, it means you're no longer with us. And most of us can agree that's not an ideal outcome.

When you're in your working years, your income is probably the most valuable asset to your name. After all, you need to earn money in order to have the cash to save and invest to meet goals and build financial securityTake away your ability to earn an income, and the ability to fund your life now or in the future goes with it. This is where disability insurance comes into play.

 

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You're more likely to become at least temporarily partially disabled at least once in your life than unexpectedly die. I would rather buy short-term disability insurance than life insurance if I can only afford one.

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