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As a freelance writer, I was never able to get disability insurance, and now with MS, that pretty much seals the deal. BUT, this post isn't about MSers getting disability insurance. After diagnosis, that's not going to happen. Spouses, though, can get disability insurance. So I would recommend that married MSers consider looking into disability insurance for your husband or wife. The loss of one salary you may be able to absorb. Two due to disability? That is much more difficult.
I asked my insurance provider, USAA, about disability insurance. They are very highly rated across the board, but they do not offer disability insurance. They do, however, recommend three companies. They suggested I get quotes from:
-Mass Mutual Financial Group
-Berkshire Life
-Principal Financial Group
Also, and this important, my advisor recommended getting "ALL" disability insurance instead of just "OCCUPATION." The difference? Say you are a high-powered trial lawyer making $200K a year ... and you lose your voice. Under occupation insurance, if you can still work as a lawyer, say doing legal briefs making $50K a year, you are NOT eligible for disability insurance if you selected the "occupation" coverage--even though you took a 75% pay cut. If you selected "all," then your disability insurance would kick in regardless. Hope this helps a few of you!
I asked my insurance provider, USAA, about disability insurance. They are very highly rated across the board, but they do not offer disability insurance. They do, however, recommend three companies. They suggested I get quotes from:
-Mass Mutual Financial Group
-Berkshire Life
-Principal Financial Group
Also, and this important, my advisor recommended getting "ALL" disability insurance instead of just "OCCUPATION." The difference? Say you are a high-powered trial lawyer making $200K a year ... and you lose your voice. Under occupation insurance, if you can still work as a lawyer, say doing legal briefs making $50K a year, you are NOT eligible for disability insurance if you selected the "occupation" coverage--even though you took a 75% pay cut. If you selected "all," then your disability insurance would kick in regardless. Hope this helps a few of you!