No one may wish to think about it but disability is a risk that everyone goes through every day. That is why disability insurance is a necessity in you life.
Disability insurance policies are designed to pay part of your wages should you be injured in an accident or are unable to work because of illness.
There are two types of policies available: long-term disability and short-term disability. You can decide to own one or both types depending on your situation.
Short term disability pays a portion of your wages should you be out of work due to injury for up to one year. Some employers pay for this benefit for their employees, some offer it for employees to purchase.
Replacement of wages is only partial; insurance underwriters, as well as your employer, want you back at work as soon as possible. Usually there is a waiting period of 14 days in which you will not receive payment.
Long term disability policies are purchased to replace what your potential earnings would be from the time you become disabled until age 65 when Medicare would be available.
Disability insurance is an important aspect of your overall insurance coverage plan, and if your employer offers it as a benefit you should definitely consider it as a wise investment. It is not the same as weight loss pills but may be more important in that when things are not going your way, the disability insurance should help you out.