The trauma of suffering a disability is bad enough. But if that disability stops you from working, how will you pay your bills? If this is the case, you should look into disability insurance.



In 1999, there was an increase in disabilities between persons age 17 to 44, up 400% from 25 years ago. In fact, one out of every seven Americans will become disabled for five years, before they reach the age of 65. These facts were first reported by the disability management sourcebook.

Now let's look at how frequently you use other kinds of insurance. Homeowners insurance is used by less than 2% of its policy owners. Even though auto insurance is mandatory, only 2.5% of the population actually has to use it. Now, long-term care insurance carries the chance of a 40% usage, for those who carry such insurance.

This relates to disability insurance, because disabled people represent almost half of those who need long-term care services. Considering these facts, it makes sense to look into getting disability insurance.

Some employers offer different disability insurance plans. This is a possibility for getting your disability insurance.

If you are thinking about changing jobs, or getting a new one, look into disability insurance benefits. If an employer offers them, familiarize yourself with the coverage involved.

Your second option is to collect disability from Social Security. This is ideal for people who have a disability that will prohibit them from working for at least 12 months. You can fill out a disability claim, and apply for it through the Social Security Administration's office.

Based on your information, they will evaluate your case and either approve or deny you. Your chances of approval depend upon your condition and your documentation you provide.

The last option is to take out an individual policy for disability insurance. While it is definitely not cheap, consider the practicality of this insurance compared to some of the insurances we discussed above. Shop around to see what different bills are available, and make sure you have an idea of what is covered in the policy, before you purchase it.

In summary, use this information to figure out if it is wise to get disability insurance. If disability insurance is needed, take the proper steps now.