Hey guys. First post on here have been following Jeremy for a while but never really got around joining to community. I currently have long term disability insurance through my work that I pay about 25 bucks per paycheck and covers 66% of my pay. however I also have a supplemental long term disability insurance through Thrivent, yes I know I’m trying to get all my stuff out of their hands this was pre knowledge of Jeremy’s content, and I pay $34 a month for the supplemental policy which basically fills in the gap. So with these two long term disability insurance is combined I get 90% of my pay covered. Nowmy wife and I have about $25,000 saved for an emergency fund we have no debt, but I do want to start saving for a house and every dollar that I can scrap together gets me there faster. Should I get rid of this supplemental life insurance policy or keep it?
Would anyone have suggestions about this? Thanks guys
I’m in a similar position. I pay into long term disability insurance through my work but I was considering stopping this year. I think that while I have a mortgage I’d probably keep this. Ideally I’d have enough invested to insure myself but for now I’m paying for the peace of mind. Interested in learning more about this area and to hear what others have to say.
That’s where Im unsure. I have two policies and it seems overkill. Wouldn’t the one that covers 66% of my pay be enough . I feel the supplemental that is 34 extra a montb to bridge the gap up to 90% is kind of overkill