One never knows what the future might hold. Today healthy and working, tomorrow illness has struck. If you would be in financial ruin if you became sick you should consider carrying disability insurance. It's a sound investment!

The concept of disability is relatively basic. If you become sick or take ill and are unable to earn an income in your field, your policy will pay you a portion of your gross wages. The portion paid can range from 45% right up to 100% coverage. This money is generally tax free. Because disability insurance policies can vary so greatly it's important that you understand the exact coverage you are getting.

It's also important to shop around to make sure you are getting the best value for your money. There's no better way to do that then online. There are many insurance websites offering disability insurance so you can quickly compare coverage and rates.

Don't make the mistake of buying a policy because it's the cheapest on the market. You could be throwing away your money. If the price is way out of line with the industry then chances are the fine print is so bad they probably seldom actually pay out on their policies.

Make sure to read all of the fine print. A policy that's full of little catches is of no value to you. We've all seen them - you must have x and y go wrong and y must occur within 5 days of x, and … well you get the picture. Don't waste your money on these types of policies.

There are some policy terms you should be familiar with. Knowing the language will make it easier to choose right.

Own-occupation disability insurance is by far the most comprehensive policy on the market. This type of policy pays you if you are unable to work in the capacity you were working at the time of the disability. So if you were a carpenter when you were disabled and you can no longer be a carpenter they will pay. And if down the road you become a salesman they will still pay because you are not working in original trade.

People don't want to be couch potatoes just because they've become disabled. They don't just want to sit back and draw a disability check. Most people will try to return to some type of work if at all possible. It's good for their self worth! The own-occupation policy is the only coverage that will continue to pay your disability as long as you don't return to your original occupation.

Income replacement insurance is the most common form of disability. It will pay you for your lost wages if you become disabled and are not able to work in your occupation and you do not engage in another occupation. With this policy if you go back to work in another field you will be penalized.

Gainful occupation coverage is a common policy for corporate group coverage. It is the worst policy on the market! It states it will pay you if you become disabled and are not able to work in your occupation or any other occupation. This potentially means you could go from being a carpenter to flipping burgers at Wendy's.

The disqualification period is dependant on the policy as is the length of time the policy stays in effect. Be sure you read and understand these very important elements. A policy that does not kick in for 6 months is not recommended. You can be financially ruined long before you see a disability check.

Most of us would run into financial trouble very quickly if we became disabled. That's why it's so important to carry disability insurance. Are you covered?

Allen Jesson writes for several sites, making sense of internet marketing strategy and making money with a home based net marketing business.

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