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May 12, 2006


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I have it but it is provided through my employer. The reason most people dont buy it is because disability insurance is quite expensive.

MB --

Two responses to your comment:

1. I would guess that most people don't even know what disability insurance costs. They have no clue. Why? Because they haven't really thought about it -- and even if they have, they haven't taken the step to check into costs.

2. The cost of disability insurance is a function of: 1) the liklihood that you'll need it and 2) the value of what it's replacing. Since there's more of a liklihood that you'll need it than, say life insurance, and it's protecting your most valuable financial asset (your income) for years, maybe even decades, it's going to be more expensive.

The evil is in the details.

Some DI companies has their own definition of disability. That's what turned me off.

One of them says if you are able to get back to *any* work, then you are not entitled to claim for disability insurance.

In other words, if you were an M.D and after accident you can still flip burgers, you are not viewed as disable.

I was told that I wasn't eligible because of my history of depression. (Something about working at your job versus any job.) Has anyone else heard this?

you are 3 times more likely to use disability insurance than life insurance by age 65

Does anyone have any advice on reliable companies for disability? Even as expensive as it is, everyone I have ever known who has needed to actually use their disability insurance has had to get a lawyer involved to get the benefit. The insurance's doctors always seem to argue you aren't actually "disabled enough" to not work.

Where do you buy your insurance from? I can't seem to find a reputable source.

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