This individual disability insurance protects your financial stabilities. It replaces 40-60 percentage of your gross income when you are sick, or ill which prevents you to work. It has a coverage that is portable when you decide to change your occupation or you transferred from another employer. Unlike the group disability insurance thats commonly paid by the employers the payments are subject for income taxes, while the individual disability insurance is totally tax free as long as you continue to pay the premium.
Individual disability insurance typically has similar features of general insurance policies. One of its details is when claiming the certain individual disability insurance there must be a recurrence of legal documents pertaining to the medical conditions. It must be submitted within 49 days of disability or absence from work. If the claim has been processed and filled the beneficiary has to wait for 8 consecutive days to get the benefits.
When you decide to get a disability insurance do not go for the cheaper one. It gives you lower percentage of benefits. Some of this plans may varies from different policies but it has same styles and features to look for. Dont throw up away your money; choose the quality one that would benefit you all throughout.