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Should I get disability on my part-time working spouse?

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  • Should I get disability on my part-time working spouse?

    Current medical resident, about to graduate in 14 months. My wife is a physician assistant and just switched to part time work after the birth of our first child (currently 5 months old). I already have disability and life insurance and we also have life insurance for my wife. Deciding if it makes sense to get disability insurance on her as well (obviously not as much as me though). I will always be the bread-winner and make good money as a specialist, but as a mid-level provider, does it make sense to get any disability on her? Her annual income being part time will likely be in the 50-100k range?

  • #2
    If your wife were severely disabled resulting from an MVA-TBI, how would your work life change?  you'd work more?  less?


    • #3
      Also, childcare/housework help is expensive. You're not just replacing her income from working outside the home but also inside the home. I would get disability on her unless you would have no problem replacing both her lost income and whatever it would cost to have a housekeeper and nanny, among other things. Assuming she's not just lazy-ing about while not at work ;-)


      • #4
        When my daughter gets old enough to be in your wife's shoes, I would recommend she get disability insurance for the sake of being able to protect herself, irregardless of what her partner can do for her.  It will have no bearing on what her partner is or is not or whatever; it is simply so that she can independently protect herself no matter what life will throw her way later on.   She can always opt to purchase the lowest amount available (and if she is young and healthy, she will have more options now), and she can consider adding on the rider that will allow her to increase the benefit later on if she decides.  But I would most definitely recommend she has her own disability.


        • #5
          Its an interesting question to consider.  Sounds like your spouse has the potential to make a pretty decent amount as a part timer.  For me, it wouldn't be worth it because my wife only makes around 56k/yr full time.  We could easily get enough help from her family in town that I could continue to work and make up for the lost income.

          If she were high paid (like 100k/yr), then I think it would be worth getting a small policy.