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Finance Quick Answers



Do I really need health insurance and disability income insurance?

Yes, most people probably do need both kinds of insurance, because there are really two kinds of financial loss that can come from health problems or injury:

  • The cost of medical care
  • The loss of income, either permanently or during recuperation

Purchasing health or medical insurance can cover the first risk - financial loss from the cost of medical care. The second risk - that you will lose income due to injury or illness - can be transferred by buying disability income insurance.




Brenda Procter, M.S., Consumer and Family Economics, College of Human Environmental Sciences, University of Missouri-Columbia













If you'd like to learn more about this and other personal finance topics, the University of Missouri offers 'Personal & Family Finance,' a correspondence course, through the Center for Distance and Independent Study (800-609-3727). Information about this course is available at





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Last update: Monday, July 21, 2008




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