Since it is Disability Insurance Awareness Month, let’s take a quick look at how probable is a disability.
I could quote the statistics that disability is more than three times as likely as death prior to age 65, but the vast majority of people won’t understand that. Nor is I go off on a tangent that buying disability insurance is a Pascal’s Wager (the mathematical opposite of a Fool’s Bet). But that would be too geeky for anyone but an actuary or a degenerate gambler.
So basically here is how likely it is for you to become disabled if you are under thirty: take a pair of quarters and flip them. If they are both heads you lose and get to be disabled, unable to generate income, for a period of at least 90 days. Thank you for playing, should have spent the ten bucks on disability insurance because now you are financially screwed.