How much disability insurance?

[dentoid]

We are a dual provider house hold and currently have about 8k/month in disability insurance. A few years have passed and our incomes have increased so we can add another 4-6k/month/each.

How much disability insurance do you recommend?

We have no children, live on less than 5k a month excluding loan payments ($7500/month, should be done in a few years).

What is reasonable amount of disability insurance? I have thought about getting 10k total each, but for a few extra hundred each, per year, we could max it.

[jfoxcpacfp]

dentoid wrote:

We are a dual provider house hold and currently have about 8k/month in disability insurance. A few years have passed and our incomes have increased so we can add another 4-6k/month/each.

How much disability insurance do you recommend?

We have no children, live on less than 5k a month excluding loan payments ($7500/month, should be done in a few years).

What is reasonable amount of disability insurance? I have thought about getting 10k total each, but for a few extra hundred each, per year, we could max it.

Click to expand...

Recommend you contact Larry Keller (LBKCLU) at Physician Financial Services or Scott Nelson-Archer at MD Financial Services , who are on the Recommended Insurance Agents list. I have talked to them both and am confident they would perform a thorough analysis of your situation and would not try to oversell, for free. Our clients who use either have had nothing but good to say.

[Scott at MD Financial Services]

It really comes down to what you are comfortable with but one of the first things I would look at is a longer elimination period to drive costs down since you have a low monthly cost of living.  Just keep in mind that if one of you does get hurt or sick depending upon what the issue is you or she might be at your bedside rather than at work so make sure one disability payment is enough to get the both of you through the potential tough times.