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There are a lot of people out there who should have some sort of insurance (health insurance, auto insurance, disability insurance, etc.) but who fail to get that insurance. They usually think that their risk of actually needing to use the insurance is low and that they’ll figure out some way to deal with situations requiring the insurance if they have to. However, you should know that the alternatives to insurance are usually not as good as just paying for the insurance itself.

For example, let’s consider disability insurance. Here are some of the alternatives you could use if you had a disability and couldn’t work but didn’t have long term disability insurance:

• Worker’s comp. Let’s say you’re a dentist who gets hurt and can’t work but the injury takes place off the job. Dentist disability insurance would cover you; worker’s comp would not.
• Savings. How much can you really save up? Is it really enough to pay all of your bills if you can’t work for a long period of time?
• Relying on help from others. Most people don’t want to move in with family members because they can no longer work.
• Social security benefits. It’s really hard to actually get these and they don’t cover a whole lot for you.

Basically it’s true that your risk of needing insurance is low. But the alternatives aren’t pleasant so you should suck it up and pay for it anyway!

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