If you become disabled, disability income insurance provides money to help you pay ongoing bills and avoid depleting the savings you may have accumulated for your children’s education or your retirement. As with other major financial purchases, it is important to review all of the options available to you and to learn how disability income insurance works.

You may already be covered under a group disability income insurance policy through your employer or eligible for disability benefits through work, the government, or other programs. Or you may have additional sources of income to depend on should disability strike: a spouse’s salary; short-term emergency savings; investments; or help from your family.

If the total of these is not enough to pay your living expenses on a long-term basis, or a disability would eat away at your retirement savings or children’s college fund, a long-term disability income insurance policy may be right for you. Such coverage may be purchased as an individual policy or available under a plan offered through your employer. Learn about the different types of coverage available.

Publications and Resources

Private Long-Term Disability Income Insurance. This fact sheet explains how private long-term disability income insurance offers paycheck protection and complements the safety net provided by the Social Security Disability Income program. (2010)

Disability Income Insurance: Financial Protection for You and Your Family. This guide outlines the features and costs of individual disability income insurance and offers tips and a checklist on buying the right policy for you. (2007)

Protection for the Unexpected. A serious illness or injury can harm more than your health--it can have an impact on your ability to work and meet your family's living expenses. This article explains how disability income insurance can help you avoid depleting your savings.