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How can you pay your bills if you can not work? Where would the money if you have developed serious illness or an accident that kept disabling you outside of work for months – or years?An often repeated that nearly a third of people of working age have a disability lasting at least three months at some time during their careers. Financial experts recommend that disability insurance to cover loss of income in such an event.Some misconceptions in May to keep people from buying a disability. Many, for example, believes that social security covers a disability. However, social security covers only if you are unable to work any job, not just the career you are trained in. To be eligible, your disability must be expected to last at least a year or lead upon your death. If you do qualify, the benefit May not be enough to cover your needs. In 1999, the average monthly disability payment of social security was $ 733.Others require workers comp cover, but accidents covers only the jobs related to disability. Auto accidents and diseases are not covered.Finally, many workers have a disability policy through their work, and they think that is enough. However, these policies often provide only about 60 per cent of your salary cap and possibly a smaller amount of money if you are very well paid. Moreover, if the company pays for the policy, benefits are taxable, further reduction in your income. (If you pay the premiums, benefits are tax free.)Thus, for many people, a good disability policy individual (or an addition to the political agreement with your employer provided plan) is required. Shopping for a disability policy can be difficult because there are so many factors to consider.Consumers are often surprised to find that different policies, unlike group policies, do not express the benefits as a percentage of income. Instead, you will be offered assurance that the promise of a monthly amount – and if you have a high income, it could be less than 60 percent of your monthly salary. “Disability insurance is not there to make the rich richer,” said Steve Crawford, CEO of Guardian Disability Insurance Brokerage in Rockville, MD. (http:www.guardiandibrokerage.com). “This is to allow you to maintain your standard of living and give you an incentive to return to work when you can.”When buying a policy, the most important aspects are to be found in the definition of disability, company stability, and renewal of the policy, “said Crawford. It is not enough to shop rates, he warned, because without a doubt cheap defines disability so restrictive that few people will still be eligible for benefits.What do you want, even if it costs more, is a “policy of occupation.” With this type of policy you are eligible for benefits if you can not perform the duties of your occupation. With “any occupation”, you would not be eligible to receive benefits, unless you are totally unable to work any job. The policy should also cover accidents and illness, according to the Health Insurance Association of America. The old you, the more likely you will be handicapped by the disease rather than injury.It is also important to have a policy that is non-cancelable. Such a policy is guaranteed renewable as long as you pay the premiums, and premiums can be raised. A “guaranteed renewable” sounds like politics is the same thing, but it does not lock in premiums, if you have less protection.Other features to consider: * Residual benefits – characteristics of the aid to the difference in income if you can work part time or work less well paid than your profession. * The benefit period – how long the benefits will be paid. Since you do not know how long you will be disabled, experts recommend financial coverage that will last until you are 65, you can start drawing retirement. Over the period of benefits, plus bonuses. * Elimination period – also called the waiting period is the amount of time (90 days, 120 days per year) expires before the benefits kick in a short waiting period means higher premiums. If you have a large nest egg of an emergency, you can save on premiums by choosing a long period. * Adjusting for inflation – the rider can keep the benefits of the rising cost of living.The financial soundness of the insurer is another important factor, “said Crawford. Find one that has been in business for a long time and is financially stable, by checking the rating of insurance services. A few companies have the reputation of not being willing to pay the claims, Crawford said, adding that consumer complaints about companies are often posted on Internet bulletin boards. Also check the condition of your insurance to see about the complaints.on that: lifeinsurance

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