Wait for Disability Insurance

Stacy asks if she should wait to get disability insurance until after she's out of debt. Dave says no.

QUESTION: Stacy on Twitter asks if she should wait to get disability insurance until after she’s out of debt. Dave says no.

ANSWER: No, I would not wait. If you can get long-term disability insurance inexpensively, you can go ahead and get it now.

If it’s going to be a huge expense, you have to analyze about whether to get it at all. I strongly believe in long-term disability insurance, but depending on your job classification and whether or not you can buy it through your work or on the open market. It may or may not be so expensive that it’s prohibitive to buy it depending on your budget.

If you can buy it inexpensively, I would do it today. It’s one of the best buys in the insurance world, and you need it now.

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