When the going gets tough, the tough cut costs. Clients worried about their finances may think about dumping big expenses that may seem to be a luxury, such as disability insurance. In this case, they would likely be wrong.

"Disability insurance is essential, but it's expensive," says Howard Recht, an insurance agent in Plainview, N.Y. "People are looking at this coverage like it's a fringe benefit. They're either eliminating it or paring it down significantly to get minimal coverage."

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