As a young person, you can't afford to be without disability insurance, yet it's the hardest insurance to sell to those who need it most, says Warren Ingram, a certified financial planner and a former financial planner of the year. Young people tend to live as if they were invincible, increasing their risk of becoming disabled. Ingram says it's more difficult for young people to imagine themselves disabled when they don't know anyone who has become disabled. They're more likely to know someone who has died, and so taking out cover in the event of premature death is usually less of a grudge purchase for them than disability cover might be. "Disability cover is much more expensive than life cover, which is probably what puts people off," he says. "In all age groups, people are massively undercovered for disability, but this is especially the case with people who are starting work, because they're starting out and can't see the need for it." Andrew Merryweather, a financial planner who...
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