question on STD, LTD, life insurance - Early Retirement ...

by tiuxiu

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Life Insurance you should only take if the surviving partner would need a lump sum amount to deal with the loss should the insured die. If either partner is gainfully employed, can live on one salary, has no special debt that needs to be paid off in the event of a death of the other partner, and no dependents that would need support, then you may not need life insurance either. Occasionally people use life insurance for inheritance issues with complicated estates, but sounds like that doesn't apply here. LTD would cover you (replace part of your income) if you were disabled for a long time - like the rest of your life. It's not a pension or a long term care policy, so it only replaces your income during your normal working years. Some have limits (like 10 years) or others by age (like to age 65). If you are almost ER and your partner's income would cover your care you might not need this, but generally I think it is worth having if you are still counting on your...

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