Financial Checklist Plan Part 3:
Insuring We're Properly Insured
The Financial Checklist Plan: Insurance Checklist
Insurance You Need
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Insurance You Don't Need
Life Insurance that is not Term Insurance
Disease Care Insurance (Cancer, Heart Attack, etc) Private Mortgage Insurance Extended Warranties Water Line Coverage Credit Card Insurance Mortgage Life Insurance Accidental Death Insurance |
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Long Term Disability Insurance:
Long Term Disability Insurance will cover a disability to you so that some portion of lost income can be maintained over the long term if you should become disabled. Often both short and long term disability insurance are offered, but short term disability insurance is often not necessary for those who have a strong Personal Reserve Fund. The best place to buy Long Term Disability Insurance is at work if offered, or through trade organizations or other pools of which we may be a part. If none of the above is possible, it can be purchased independently, though it may be more expensive.
Next, consider Long Term Care Insurance (if over age 59).
Long Term Disability Insurance will cover a disability to you so that some portion of lost income can be maintained over the long term if you should become disabled. Often both short and long term disability insurance are offered, but short term disability insurance is often not necessary for those who have a strong Personal Reserve Fund. The best place to buy Long Term Disability Insurance is at work if offered, or through trade organizations or other pools of which we may be a part. If none of the above is possible, it can be purchased independently, though it may be more expensive.
Next, consider Long Term Care Insurance (if over age 59).