Comments on: Career Insurance: Insuring Your Most Valuable Asset

By: Stacy Barbee

Stacy Barbee — Thu, 19 Jul 2012 12:01:08 +0000

Career insurance is a nice and novel concept. Isn’t it? Just another name for disability insurance! In today’s competitive world, it takes a lot of time to build a career, and a lot less to see it being washed away. Insuring your ability to earn is a good step to improve your chance of survival amidst the competition.

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By: Don

Don — Sat, 16 Oct 2010 13:26:30 +0000

You could very reasonably add “flu shot” to Mom’s list.

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By: StackingCash

StackingCash — Sat, 16 Oct 2010 06:23:17 +0000

The slight flaw with your first “insurance” tip is that it allows greedy CEO’s to terminate your coworkers forcing you to do the work of multiple people. Don’t expect a salary increase either.

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By: David/moneycrashers

David/moneycrashers — Sat, 16 Oct 2010 02:40:07 +0000

I’d say the key is to develop money-making hobbies, or better yet, develop a passive form of income.

This is the best hedge, to me, against unemployment or a downturn in the economy or anything else that could jeopardize your “primary” career.

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By: Dwight

Dwight — Sat, 16 Oct 2010 01:35:02 +0000

I’m amazed that more people don’t protect their most prized means of income which is their career. You’ve mentioned some really good successive plans in the case that those are not followed properly in the case of what type of insurance to buy e.t.c. This is easily one of your top three assets.

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By: AC

AC — Sat, 16 Oct 2010 01:04:28 +0000

I could never consider my supervisor a mentor.

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By: El Nerdo Loco

El Nerdo Loco — Fri, 15 Oct 2010 20:51:55 +0000

Any advice for freelancers & the self-employed with irregular incomes? Does this apply at all and how? I’m interested…

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By: Briana @ GBR

Briana @ GBR — Fri, 15 Oct 2010 19:53:45 +0000

These are excellent tips. I think a lot of people look at jobs as being short term, but a career is definitely your most valuable asset. Steady income over a course of time. Career insurance is important. Would you consider a mentor being your supervisor? Or should you look for someone else?

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By: cerb

cerb — Fri, 15 Oct 2010 18:17:25 +0000

I’ve been encouraging my college-aged children to attain job skills and experience. Lower wage jobs (being a waiter, construction worker, sales clerk, child care provider, etc.) make great back-up jobs when times get tough.

I’ve also been encouraging them to consider an alternative career in case the first plan doesn’t work out. Technology increasingly makes specific jobs obsolete, or outsourcing sends millions of jobs oversees. I think it’s important to be flexible and keep an open mind about switching career paths.

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By: Nick

Nick — Fri, 15 Oct 2010 17:58:14 +0000

Great advice! sad to see, however, lots and lots of people going above and beyond the call of duty that found themselves jobless. My insurance is having my hands in lots of different projects…always. keeps me busy and and keeps me diversified.

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By: LMN

LMN — Fri, 15 Oct 2010 16:30:28 +0000

You gotta get disability insurance!! Where I work it’s only $2.50/per two weeks to cover 60% of your pay until you go on SSDI or regular SS. I see young people getting life insurance etc. but ignoring disability insurance all the time — dumb, dumb, dumb! STATISTICALLY YOU ARE MORE LIKELY TO BE DISABLED THAN TO DIE IN YOUR 20′S, 30′S, 40′S, 50′S — and what would you do without an income? And don’t count on SSDI — SS routinely denies nearly all claims, and the appeals process takes nearly 2 years from start to finish, assuming you end up with a successful outcome. Disability insurance is one of the easiest and cheapest things you can do to protect you and your family. No excuses for not getting it.

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By: Wayne Mates

Wayne Mates — Fri, 15 Oct 2010 13:50:19 +0000

Excellent article! Contracting also helps with keeping the finanacial strain down after being laid off or fired. Not only does it pay you, it can keep your skills sharp and expose you to new opportunities. If you can contract in your field of expertise, complete all the assignements superbly, the company you are contracting with may just offer you a full time position.

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By: ArandomPerson

ArandomPerson — Fri, 15 Oct 2010 12:12:30 +0000

Good to see such a topic covered.

I agreee with the “Get disability insurance” point. It is cheap, not tied to a job, and is worth it for me.

I only carry long-term disability because I can cover 90 days or so recovering from some illness (or whatever) without causing a money problem.

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By: Everyday Tips

Everyday Tips — Fri, 15 Oct 2010 12:10:13 +0000

There is a lot of great advice in this post.

I know a lot of the suggestions may not be fun, but they may have a huge payoff. (Who wants to go to a meeting for a professional organization when Monday night football is on? But, you gotta do it.)

Always return the calls of headhunters because you just never know what is going to happen in the future. All it takes is for the company you work for to be bought, and then some stranger is making a decision about YOUR job.

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