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Tag: probability

 if Life Insurance was such a bad deal, how come the more financially successful someone is, the higher the probability that they own permanent insurance?

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.