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Personal Finance (Not Investing) • Disability Insurance?

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Hello-

I feel delinquent in not signing up for disability insurance. There is a part of me that feels that I can self-insure, but I also want to be sure I'm not a burden on my family. Here are the family stats:

Family of 4
HHI $475K
DW (45yr/old) $225K (unstable job)
DH (45yr/old) $250K (somewhat stable job) w/ high bonus potential. Average $800k total comp last 3 years.
2 Kids (10/12)
$7.25 Total NW
$4 million in investable (all indexes) broken down as follows:
Taxable - $2 million (70/30 Stock/Bond)
Tax Defered $2 million (80/20 Stock Bonds)
Home Equity - $2 million (NO mortgage)
529 Plan for both kids - $525k (80/20 Stock/Bonds)
Alternatives - $700 K (mix of real estate and PE)
No debt.

Household expenses: $140k-$170k/year. Can easily bring this down to $120-$140k/year if needed.

Should I pay the $5k/year in premium (just for DH) for the $100k/year in tax free payout till 65?

Any thoughts would be greatly appreciated.

Statistics: Posted by Geekling — Mon Jan 29, 2024 10:08 am — Replies 0 — Views 3



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