You may think your biggest asset is your house or your 401(k), but it's actually your ability to earn money. Chances are that you don't have enough protection should you become hurt, sick or unable to work for more than a few weeks.
Your state's workers compensation fund, for example, usually provides benefits only if you get hurt on the job. Your employer might provide some kind of short-term disability coverage, but the benefits will end between three months and a year.
If you can't work for longer than that, Social Security may provide some benefits, but only if you're so disabled that you can't hold any job. So unless you want to switch from your current career to one you find less appealing, you may want to consider purchasing a long-term disability policy.
Most insurers won't provide benefits that replace more than 60% or 70% of your income, but select the highest percentage you can get.
You can buy policies that cover you for the rest of your life, but they are often prohibitively expensive; look for ones that pay benefits until age 65.
If you have questions or would like more information on Disability Insurance, please call 888-414-6400. We're here to help!