I've always worked for larger companies, so I've always just assumed employer provided and supplemental group life and disability insurance benefits being as things that were the standard everywhere. I'm considering taking a job at a small startup, but I got the details on their benefits today and there's none of those things. They only have PPO health plans and no FSA option.
I have a private life insurance policy, but I have bipolar disorder which no one likes from an insurance perspective that makes it prohibitively expensive to get more than a certain amount, so I've been including the life insurance coverage I got through my employer for estate planning purposes.
I'm a solo parent to a child with disabilities, so I will readily acknowledge that I could be looking at this too conservatively. I have six months of income in savings, a small amount of investments not counting my retirement, and no debt other than my mortgage. Is it worth getting short- and/or long-term disability insurance independently at 39 with conditions insurers really don't like, but otherwise in good health?
I knew already I would be taking a pay cut immediately, but depending on these costs, it could be a significant drop in net income. I just worry about setting myself up for disaster, but also not spending a ridiculous amount on insurance I don't really need if it's worth it. There's the aspect of interesting work and equity, which is a whole other aspect.
Submitted November 17, 2020 at 12:31AM by DandyPandy https://ift.tt/2UCyICo
