If you’re unable to work due to sickness or injury, individual disability insurance can help cover your monthly expenses. One of the top disability insurance companies is Mutual of Omaha; its Mutual Income Solutions policy offers extensive benefit options and an easy-to-navigate online quote system.

MassMutual’s Radius Choice policy provides generous disability benefits, potentially compensating your contributions to an eligible retirement plan as if you were still working. Additionally, Ameritas’ DInamic Cornerstone Income Protection policy presents a wide range of protection levels, including offering premium discounts to individuals who haven’t used tobacco in the past year.

Assurity’s Century+ policy is also a standout, providing robust rider choices, and Principal’s Income Protector disability insurance caters to high earners with substantial monthly payments. It also offers quick coverage approval if you meet their eligibility requirements.

The scope of disability insurance varies. Generally, these policies replace a portion of your income if you’re unable to perform the main duties of your occupation due to illness or injury. Coverage can be provided for short-term and long-term circumstances, depending on your insurance. If you don’t have workplace insurance, you can purchase individual disability insurance.

To apply for individual disability insurance from a private company, you will need to reach out to an insurance agent. Many companies provide online quotes and the option to connect with an agent via their website.

Once you’re enrolled, you’ll need to pay monthly premiums. If you become unable to work due to illness or injury, the policy will cover a percentage of your income. The definition of “disability , the timeline for payments to start (the elimination period), and the length of the benefit period may differ from policy to policy.

When choosing a plan, it’s crucial to calculate your financial needs, considering your monthly expenses and other potential sources of income. It’s also important to examine the policy’s definition of disability , as this can affect your ability to receive benefits. Other factors influencing policy pricing include your occupation, health, age and gender.

Applying for government disability insurance like Social Security Disability Insurance (SSDI) is a more complex process, often requiring extensive paperwork. It also requires that you have previously contributed to Social Security. Legal assistance may be useful when applying for SSDI or Supplemental Security Income (SSI) to ensure application accuracy and increase approval chances.