3. Disability Insurance
If you are still in the work force, your most valuable asset may be your human capital—your ability to pull in a paycheck. What if an accident or illness makes working impossible? To protect yourself, you may want to purchase disability insurance. One rule of thumb suggests buying enough coverage to replace 50% to 70% of your current salary. In fact, you may have a tough time buying insurance that will pay much more than 70%. A policy’s premium will be driven by how much income you’re looking to protect, how long you want the benefit to last, your age, sex and occupation
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