An important thing to look for when considering disability insurance policies is the definition of total disability.
The most consumer-friendly definition of total disability is "own-occupation disability."
If you are disabled and cannot perform the principal duties of the job you currently have, you get paid your disability benefit even if you can do some other tasks.
This definition is extremely important as it means you will not be penalized for working if you can't yet go back to your full-time job. For example, if you can not go back to your shipping job due to a back injury that limits the amount you can lift, you could work as a salesperson during this claim. The inverse of this definition is "any-occupation disability." Under this definition you do not get a benefit unless you are completely unemployed and unable to do any work.
When looking at a new disability policy ensure that it also includes partial or residual coverage. On average, 1/3 of all claims is for partial disability coverage. Insurers only pay partial disability benefits if you can work at your job for a reduced period of time. For example, after an accident, someone might leave work entirely for six months, then work on a reduced schedule for the next year in order to be reintegrated into their position. If working part-time meant the person lost a percentage of his income, partial disability coverage would kick in and pay a proportionate benefit.
If you have disability coverage, you may not use it for decades and hopefully you never will. However, you may find a use need to use it in 15 years from now. Due to economic factors and inflation, the policy benefits you have now may pay for considerably less than it does now. A smart person will buy a rider that adjusts your policy for inflation, particularly if you're in your younger. Another option to consider is a "future purchase option". It allows you to buy more coverage as your salary rises or your business expands. This too is especially good for people just starting their careers.
As I am sure you can see, disability insurance is a good option regardless of what profession you are in. We just never know when we might fall at work, twist our back, slip in the shower or loose an appendage.
Any injury, no matter how small it seems now, has the potential to have serious complications later in life. If you do not have a suitable disability program in place you may find yourself having to face being unable to work and only receiving 40% of the pay you are used to. The small price of 1 to 3% of you r yearly income is a small price to pay for the security that is offered with a good disability policy.
