Disability insurance covers a person who due to illness or injury is unable to work. There are both short term and long term disability insurance policies. Short-Term Disability policies have a waiting period of 0 to 14 days with a maximum benefit period of no longer than two years. Long-Term Disability policies have a waiting period of several weeks to several months with a maximum benefit period ranging from a few years to the rest of your life.

There are two different protection features within disability policies known as non-cancellable and guaranteed renewable. Non-cancellable is a policy that cannot be cancelled by the insurance policy unless one fails to make premium payments. This allows the policy holder to renew their disability insurance policy with no increase to the yearly premium and no reduction to benefits provided by the insurance policy.

Guaranteed renewable allows the disability insurance policy holder to renew the policy every year with the identical benefits, but when the insurance company increases premiums for insurance policies in the same rating class, the increased premium will apply.

There are more options to consider when purchasing disability insurance. One should consider whether their policy allows the right to purchase additional insurance at a later stage. There might be a Cost Of Living Adjustment option which allows one to pay more into the premium, which the insurance company then in turn gives more money towards the cost of living when these costs increase. There might be an option to receive partial payments from the insurance company when one is able to return to work on a full time basis. Depending on the policy, one might be able to receive a partial refund after a certain period of time if no claims are made. The policy might also have a waiver of payments after one is disabled fro ninety days. It is always imperative to read the insurance policy very carefully to find out exactly what you are and are not covered for.

When it comes to getting the best deal on insurance shop around online.