Why it's wrong: Having insurance is like carrying an umbrella — you may not need it, but you'll sure be glad you have it when the storm hits.
If your career is your largest asset, a temporary or permanent loss of income can affect you and your dependents greatly.
How to improve: Your employer may provide short-term disability insurance or life insurance at group rates, but if you support anyone — children, a spouse, or otherwise — and rely on a steady paycheck to pay regular bills or stay on track financially, you probably need additional disability insurance and/or life insurance.
Disability insurance can help replace lost wages if there's an accident or illness that keeps you from work for a period of time. Meanwhile, life insurance provides a chunk of cash to your beneficiaries if you die prematurely — and the younger and healthier you are, the cheaper it will be.