Personal Finance

Life, criticial illness or disability insurance?

  • Last Updated:
  • Feb 24th, 2010 9:32 pm
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Deal Addict
Mar 8, 2009
1420 posts
109 upvotes

Life, criticial illness or disability insurance?

I have no insurance coverage at this moment. I'm leaning toward getting critical illness and disability insurance.

What are your thoughts on these and which would you get and why?
2 replies
Deal Addict
Jul 8, 2009
2028 posts
482 upvotes
Edmonton
Disability insurance can be expensive, but that's your greatest risk. I'd ut them in this order of importance: DI, life insurance, CI and long-term care. Check associations you belong to for possible group insurance. DI is your biggest risk because you're probably much more likely to have a disability, and if you're disabled the risk of a prolonged disabiilty is significant. Your income may cease but your expenses continue. What you do depends a lot on your personal situation, which we know nothing about. Your situation can affect your decisions a lot. Seek out an independent insurance advisor for specific advice.
Deal Addict
User avatar
Feb 16, 2010
1943 posts
31 upvotes
Whether critical illness or disability, if you have pre-existing conditions you're toast!

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