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cover of episode The Critical Insurance Many High Earners Don’t Realize They’re Missing

The Critical Insurance Many High Earners Don’t Realize They’re Missing

2024/11/13
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The Money with Katie Show

Chapters

This chapter introduces the concept of long-term disability insurance and its importance for high earners, using Lacy's personal story as a case study.
  • Sudden sensorineural hearing loss can drastically impact a high-income career.
  • Long-term disability insurance can protect high earners from financial ruin in case of disability.
  • Lacy's experience highlights the critical need for such insurance, even for those with employer-provided coverage.

Shownotes Transcript

At her career’s height, Lacy was earning more than a million dollars per year (!) as an executive at a major bank. Then, one early morning, Lacy woke up and realized she was unable to hear anything in her left ear, experiencing something called sudden sensorineural hearing loss. She feared the worst: Her career, as she knew it, was over.

Fortunately, Lacy had purchased a valuable insurance policy a decade earlier. And you don’t have to be pulling down seven figures like Lacy to benefit in the same way.

Transcripts, show notes, production credits, and more can be found at: https://moneywithkatie.com/disability-insurance).

Money with Katie’s mission is to be the intersection where the economic, cultural, and political meet the tactical, practical, personal finance education everyone needs.

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