Direct answer
No, it is often not the most cost-effective solution for high-income earners because the monthly benefit caps are typically low compared to your actual take-home pay. Most individuals in this bracket benefit more from an emergency fund for short-term needs and a robust long-term disability policy for catastrophic events.
Actuarial analysis regarding income protection strategies for high-net-worth individuals. For additional information about the likelihood and financial impact of long-term and short-term income loss, see the Council for Disability Awareness‘s actuarial research and consumer resources.
What this means for you
No, it is often not the most cost-effective solution for high-income earners because the monthly benefit caps are typically low compared to your actual take-home pay. Most individuals in this bracket benefit more from an emergency fund for short-term needs and a robust long-term disability policy for catastrophic events.
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