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Disability Insurance

Disability Insurance:

Disability Insurance:

By the time you reach age 30, you’re more likely to be disabled than to die before you reach age 60. That is why Disability Insurance is mandatory. Here are recommendations:

  • only buy Long-Term Disability Insurance
  • carry as much as you can get (typically 60-70% of your income) & carry it your entire life
  • if possible, buy through work for the cheapest option
  • look for "own-occ", which means your own occupation is covered if you become unable to do your job (usually has a 2 year limit)
  • don’t buy disability insurance pre-tax
  • compare policies with different elimination periods (between 30-180 days)
  • look for non-cancellable policies that cannot drop you if your health changes

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