Studies show that in the U.S., a 20-year-old worker has a 3 in 10 chance of becoming disabled before reaching retirement age. If you don't have much in the way of a financial cushion, you need enough to cover costs and supplement your income until you can go back to work.
Disability insurance, sometimes called "income insurance" guarantees a monthly income - usually 60% of your average earned income - to help maintain your standard of living even when the paychecks suddenly stop. |
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