I am single, no kids and don’t own a home, but I probably have more disability insurance than most people who do. I know that if something were to happen to me and I was unable to work, there is no way I could support myself, no would my family be able to help me out.
People know about life insurance and can understand why they need it, but did you know that you are much more likely to become disabled in your life than you are to die prematurely? I certainly never thought about it until I worked in the insurance industry and saw all the devastation that can happen to someone who doesn’t have it.
This is an older article, but it has a lot of great information about disability insurance and why it’s important:
If nothing else, enroll in your company’s group plan. It’s usually pretty inexpensive and it’s much easier to get coverage. However, don’t overlook getting an individual policy to supplement it, as group plans usually only cover 60-70% of your salary, not including bonuses or overtime.