disability insurance
Does anyone have and/or recommend buying a disability policy?
I bought term life insurance when I was 25 to cover my wife (and one day kids) in case I go early, and have considered DI on and off over the years.
Curious to get thoughts
For context -my wife and I are boht 30 & healthy
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I’ve had it through work for minimal cost. retiring at 45 and no longer need it. Without kids, why paying for term insurance? Does your wife rely on your income? I would typically suggest term once someone relies on your income up through retirement.
Disability is more interesting in case needed due to debilitating issue which then increases care costs.
The driver of getting term "early" was to lock in a lower rate and only pay for it until we built up enough of a net worth / assets where it would no longer matter.
Do you have disability? I know jobs / the state often cover up to 60% of your income, so people get DI policies to cover the other 40%