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Here's exactly why experts recommend buying one type of disability insurance over the others

Here's exactly why experts recommend buying one type of disability insurance over the others
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Disability insurance can help replace lost income if you can't work for a several months or years due to an injury or chronic illness.




Most traditional employers offer short-term disability insurance at no cost to the employee, but that's probably not enough coverage.




Long-term disability insurance can pick up where short-term coverage and your emergency fund leave off. The benefits from a private policy are usually bigger and are tax-free.




Premiums for long-term disability insurance typically run between 1% and 3% of your annual pretax salary, but can vary depending on your coverage amount, age, location, health history, and occupation.




Policygenius can help compare disability policies and prices to find the right coverage for you



If you rely on a steady paycheck to support yourself or your family, you'd be wise to protect that income with disability insurance.
In exchange for a monthly premium, disability insurance helps replace your income if you're physically or mentally disabled and cannot go to work for a few months to several years.
Most traditional employers offer short-term disability insurance, but that usually only replaces up to 50% of your income for about three to six months, plus you'll have to pay taxes on the payments. Also, these policies are contingent on your employment with the company.
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