Disability insurance
This insurance provides money in the event you are unable to work for an extended period. The details may vary by insurer and policy. If you’re on the fence about whether to buy disability insurance, consider whether you have a big enough emergency fund to pay the bills if you are unable to work.
Social Security disability benefits provide payments if you are unable to work due to a medical condition that is expected to last at least one year or result in death, and if you meet other requirements. But even if you’re approved, there is a five-month waiting period before benefits begin.
