The Business Insider recently released a couple of articles highlighting the importance of obtaining disability insurance:

Disability InsuranceSometimes, spending money now means saving in the future.

Yet according the-the numbers, we still have the tendency to skimp on, or neglect, highly important purchases — notably, insurance.

When things are going well, insurance can seem like a boring, potentially confusing, and mostly unnecessary cost. But when life takes a turn for the difficult, it can make all the difference.

Here are three types of insurance well worth your money:

1. Disability insurance

Disability insurance — which replaces some of your income should you become disabled and cannot work — tends to get neglected more than other types of insurance, yet it is one of the most important types to buy.

The Bureau of Labor Statistics found that in 2014, 39% of private industry workers took part in short-term disability insurance — which typically covers periods lasting less than six months — and 33% took part in long-term disability insurance, which covers the length of the disability or until retirement.

“It’s one of the biggest things people overlook,” explains Mary Beth Storjohann, certified financial planner and author of “Work Your Wealth.” “They think, ‘It won’t happen to me,’ but the stats tell a different story.” The Social Security Administration estimates that a 20-year-old entering the workforce has a one in four chance of becoming disabled before retirement.

Start by looking into whether your employer offers disability insurance, Storjohann suggests. That plan will be much more affordable than buying a private policy because you’re getting a group discount. A typical employer plan will cover about 60% of your income.

If your employer doesn’t offer it — or if you’re self-employed — you will have to take out an individual policy. You can also supplement your employer’s policy by buying private policies, which some people prefer to do, particularly those with dependents relying on them. This could replace closer to 85% of your income.

At the end of the day, “Your biggest asset is your ability to work and earn a living over your lifetime,” emphasized certified financial planner Jonathan Meaney to Business Insider. “If you get disabled at age 25, and are unable to work and earn an income over your lifetime, that’s probably the biggest loss that you could have. Disability insurance is there to protect you from things like that.”

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