| Individual Disability Insurance |
Disability coverage replaces a portion of your salary if you become disabled and cannot work. Without it, you may have to spend your retirement savings, college funds, and other assets for everyday living expenses. A variety of unexpected medical problems can leave you unable to go to work for a period of time. If this happened to you, how would you pay your bills and support your family?
 | Review the sources of income available to you if you should become disabled.
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| Check the disability provisions in your employee benefits plan. Is this coverage adequate?
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| Build an emergency cash fund that can cover living expenses for at least six months.
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Your chances of suffering a disability are greatest during your working years?significantly greater, in fact, than your risk of a premature death. According to a 2002 report by the Disability Insurance Resource Center, a 42-year-old has an almost 4 to 1 chance of becoming disabled for at least 90 days. Can you afford not to have an income for three to six months?or more?
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Disability insurance varies widely based on the issuer and the state in which you live. Be sure to speak to a licensed financial professional who can explain the policy thoroughly, including:
| Costs
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| Benefits
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| Exclusions
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| Special features, such as basic hospital, basic medical, or major medical insurance as defined by your state insurance department |
| The effect of Medicare on benefits, if any
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Find a financial professional in your area.
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