Disability insurance
You cannot lose your income even temporarily because of
- Your debts (mortgage, car payment or student loan)
- Your family members who are relying on your income
Long term disability insurance (LTD) pays a portion of your income if you are unable to work due to a serious injury or illness. Payments stop when you get back to work again, or reach age 65, or die.
If you do not have any group benefits from your work, definitely you need to buy disability insurance.
If you have group benefits, contact your HR department and ask for your long term disability amount coverage. Evaluate your coverage accurately. In most cases people have to buy extra coverage themselves.