Financial planner and Business Insider contributor Malik S. Lee says he's surprised when clients don't list their income as one of their most valuable assets.
Can you support yourself and your family without an income? If not, it's a key asset--and you should protect it.
Group long-term disability policies from employers typically cover 60% of your income. But according to Business Insider, that income is taxable and doesn't include bonuses or commissions.
If you're self-employed, an independent contractor, a sole proprietor, or a gig economy worker, disability insurance is even more critical.
Finally, if one part of your body is critical to your work, such as a surgeon's hands or a singer's voice, disability insurance should be high on your priority list.