I currently receive disability insurance through my employer. It is $14k/month of coverage ($12k/month of which is not taxable). My stated salary is $375k, but have a decent amount of extra benefits through my employer (retirement match, bonus, majority of healthcare premiums paid, etc) and do some internal moonlighting as well. I am 40, married with 2 young kids, and live in a high cost of living area (we would move if I were ever to become truly unable to work though).
I realize everyone's situation and needs are different, but I am trying to decide if I have enough disability coverage, a little less than I need, or a lot less than I need. Any comments would be appreciated.
I realize everyone's situation and needs are different, but I am trying to decide if I have enough disability coverage, a little less than I need, or a lot less than I need. Any comments would be appreciated.
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