Archive for: August 8, 2016

Why You Need Disability Insurance When You’re Young

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A few weeks ago, I published a post on why you should choose term life insurance over whole or cash-value life insurance. In  the comments, many readers said they already knew to buy term life insurance, but they were less certain as to whether or not they needed disability insurance. As per their requests, here’s a post to hopefully sway you to purchase disability insurance in your 20’s! You’re more than 4x more likely to become disabled than die by age 65 If  you’re 25 years old, the likelihood that you’ll become disabled at some point in your working lifetime for 3 months or longer is 58%. What’s more, there’s a 38% chance that disability will last 5 years or longer. In other words, there’s a good chance you might not be able to work, sometimes for years, during the prime earning time of your career. If you have bills to pay, […]