Disability Insurance Policy

Written by Patricia Tunstall
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A disability insurance policy that is affordable totally depends on your income and financial resources. Of course, each person might have a different idea of the amount of coverage needed or preferred. Even workers with the same salary will have individual determinations of the kind of policy and the level of benefits desired.

In other words, what is "affordable" is a personal decision. What everyone can agree on, however, are the factors to consider before making the final selection of disability insurance coverage. Circumstances vary, but each wage earner must think about specific needs should current circumstances change for the worse.

Factors to Consider

Some workers will have only themselves to keep in mind, but eventually, many individuals do marry and have children. The number of family members will influence the type of disability insurance policy selected. Whether or not both spouses work is another item. Will you each need an individual policy?

Are you caring for an elderly parent? Does your spouse or child have a medical condition that requires the care of specialists? Do you have strong tendencies in your family history of heart problems, diabetes, cancer, or other debilitating illnesses and diseases? Finally, should you obtain individual disability insurance in addition to the group coverage offered by your employer?

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