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To: bentway who wrote (159983)	10/25/2008 12:58:36 PM
From: GraceZ	Read Replies (2) \| Respond to of 306849

You have such a simplistic way of looking at stuff, a big insurance company needed bailing out therefore all insurance companies are a flawed model. If the average person had taken their FICA payments and bought disability insurance and put the rest in a passbook savings account they'd do better than the payouts they'll get from SS. As it stands, they'll be lucky to receive anything close to the cash yield on that money. Disability insurance is the most cost effective, cheapest types of insurance you can buy. Certainly the stripped out, difficult to collect, disability built into SSA is easy to replace in the private market and for a few extra bucks most of us can have a premium plan that covers "own occupation". The fact is that the majority of people, those with dependents and assets to protect, find that once they've paid the FICA for the base plans that the government forces us to buy we STILL end up buying disability insurance, life insurance and funding a pension in the private market because we still need to!