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Before buying disability insurance, be sure an understand exactly what you are getting.  Below you will find some suggested questions that you should know the answer to before buying any policy.

  1. How is "disability" defined?   Make sure that you are covered if you are unable to do your job but can do other types of lesser paying work.

  2. How long is the policy good for?

  3. How much will you receive each month and will the payments be monthly or every two weeks?

  4. Are you guaranteed to have the insurance for as long as you like and what restriction are in place to limit when your premiums are raised?

  5. Is there anything in the policy that allows you to recover some of your premiums if you never file a claim?

  6. Is the benefit amount adjusted each year by a cost a living adjustment?

  7. If you miss a payment, how much time before your policy is canceled?   Can the policy be canceled by the insurance company for any other reason than not keeping up on your payments?

  8. If you are only able to return to work part time, or for sporatic periods, how much if any does the insurance pay?

  9. Do you continue making premium payments while disabled?  How long must you be disabled before you are no longer required to make premium payments?

  10. If you relocate to another area or country, can your policy go with you?

  11. Are the benefits taxable?

  12. Can you keep the policy if you change employers?

  13. Are there any restrictions on what other activities you can participate in, such as wind surfing, motorcycle riding, hang gliding,baseball, etc.?