Disability insurance replaces a percentage of your income when you are unable to work due to sickness or illness. It helps you pay bills, medical expenses, or whatever else needs to be paid.

Most people get this coverage as part of a benefits package. But if you are self-employed, you will need to purchase your own policy.

Qualifying for Coverage

In the case of this policy, a disability is any illness or injury that makes you unable to perform your work-related duties. Disability can include pregnancy, elective surgery, and medical conditions. Workers’ compensation pays for work-related injuries that occur on the job, but disability pays no matter how, why, or where you became disabled.

Disability Benefits

As of 2017, disability benefits are payable for up to 52 weeks. In most cases, the amount is 55% of your total income. But this is only up to the maximum weekly benefit amount. If purchasing a policy on your own, speak with an insurance agent for more information. Learn the details of how disability insurance can benefit you, and how much it will cost. If the disability is provided by your job, then you will simply have to file a claim when necessary.