Accidents happen: Consider long-term disability coverage
Abstract: A disabling accident or illness can happen to anyone at any time — and the more severe, the greater the potential drain on an individual’s or family’s budget. For this reason, everyone should at least consider long-term disability insurance. Employer coverage is likely only short-term and, even if it’s for a longer period, may not offer adequate coverage. Buying one’s own long-term disability coverage isn’t inexpensive, but does offer certain advantages. There are, however, certain things to consider, such as how the insurer defines “disability” and whether to buy “own occupation” vs. “any occupation” coverage.