Disability Insurance in Tennessee
If you follow Dave Ramsey, you know that disability insurance in Tennessee is essential to ensure your financial stability. You probably also know that he recommends getting it through your employer or an association. If those options aren’t available to you, you’ll need to look at private disability insurance – that’s where we come in.
Why Getting Coverage Matters
One in four Americans will experience a disabling event that puts them out of work for 90 days or more. If the thought of going three months without your paycheck makes you nervous – it’s time to look at disability quotes. Across the board, disability insurance rates are relatively affordable (1-3% of your income), so there’s no reason to delay.
“Not enough people have disability insurance. You need to carry it your entire life.“ – Dave Ramsey
Types of Disability Insurance in TN
There are two types of disability insurance: long-term and short-term. Dave doesn’t recommend short-term disability insurance because, if you follow the Baby Steps, your emergency fund will cover that. The main difference between the two is that long-term covers a percentage of your income for five years or longer, while short-term only covers 3-6 months.
How Much to Get
Dave recommends finding a policy that covers 60-70% of your income for at least 5 years. Keep in mind, however, that there will be an elimination period – typically around 90 days – before you receive any payment. That is why your emergency fund is so important! If you have a healthy savings, that elimination period won’t be a problem.
Don’t waste time. Get your free, instant disability insurance quote today!
Still not sure how much you need? Check out this free tool to help you figure it out before getting your long-term disability insurance quote.
Call Zander Insurance at 800-356-4282 if you have any questions about disability insurance in Tennessee or contact us today!