Disability Insurance: Individual: Things To Think About When Purchasing
When considering which Individual Disability Insurance policy to purchase, consider the following suggestions from David Petersen, founder of Affording Cares.
Particularly note the steps to take if you have an opportunity to purchase an individual disability insurance policy and to obtain group Disability Insurance as well.
Before purchasing disability insurance, get a fix on what other income benefits you may have so you will have an idea about the gaps. For instance, whether you have disability coverage through work either because of an employer benefit or because of group insurance. Also look at your government benefits, such as Social Security Disability Insurance (SSDI).
If you have a choice among more than one Individual Disability Insurance policy, for help choosing the best one for you, see: Disability Insurance: Evaluating Individual Policies.