While most of us understand the need to insure our cars and homes, many do not consider insuring what pays for those things our paychecks. It is crucial to understand the importance of properly insuring your paycheck with disability insurance. Here are answers 
to six of people’s most pressing disability insurance questions:
1. Where does disability insurance fit within my financial plan?
Disability insurance is there to protect your income, should you become ill or injured and unable to work. In essence, it protects your paycheck. Your financial plan needs to begin and end with income planning. Unless you first protect your income, there is no financial plan!
2. What about disability insurance through my work—isn’t that enough?
That’s called group disability insurance. With this particular coverage, you are just a tenant. You are not in control because you do not own the policy. It can be taken from you in an instant; your employer may give it up or the insurer may decide to stop insuring the group. You are at their mercy.
Plus, 70% of employers don’t offer long-term disability insurance at work, which means if you do have coverage, it’s probably short-term disability insurance, which would not help you meet your financial obligations if you were sick or injured for an extended period of time.
Also, keep in mind that group long-term disability insurance typically only covers your base salary, so bonuses, commissions, incentives, deferred compensation, stock options and pension contributions are generally not covered. In most cla
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