846-Friday Q&A: 3 Corrections, Whole Life, High Interest CC Debt, Living Library, Disability Insurance, Foreign Language, Etc.
Radical Personal Finance
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I Don't Think This Is a Great Idea for Disability Income Insurance
If there's a specific thing at you're concerned about, purchase a short turn disability insurance policy. A long term disability contract like this is not the kind of thing that makes a lot of sense. If your wife were in a car accident and she were paralyzed from the waist down, then that waver of premium would kick in on the contract. So what i would do if my wife, if she became disabled, again, hire a tutor or send the children to school to minimize the amount needed. I would hire a nurse into the house t take care of her if necessary. Or domestic help to help us with house chores. And then flip all that life insurance to whole life insurance
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