In general, disability coverage, be it from social security or a private insurer, is meant to replace lost employment income. So, if you retire early or you elect to take a few years to be a stay at home parent, you will quickly lose any ability to collect on private insurance. And, later, will lose the ability to collect social security disability.
Disability coverage is important since a disabled person can incur much greater living costs.
Long term care policies can provide coverage for some of the extra living costs if the person experiences a loss of ability that meets the policy requirements to collect.
Statistics: Posted by Katietsu — Sat Sep 28, 2024 9:14 pm