28-12-2010, 12:13 PM
Hi d.o.g.
To add on, I originally had the impression that for a good DI insurance, the policy will pay a percentage, often 75%, of the difference between one's new wage and the old one, where one's new wage will keep changing. However, my take-away from my advisor is that I will need to attribute an amount I wish to cover, and this will be constant even as I age or get increments. i.e. Premiums payable for $1k income coverage is lower than $10k income coverage.
Is this still a good policy to take up in your opinion?
To add on, I originally had the impression that for a good DI insurance, the policy will pay a percentage, often 75%, of the difference between one's new wage and the old one, where one's new wage will keep changing. However, my take-away from my advisor is that I will need to attribute an amount I wish to cover, and this will be constant even as I age or get increments. i.e. Premiums payable for $1k income coverage is lower than $10k income coverage.
Is this still a good policy to take up in your opinion?