Considering Social Security benefits is important in deciding your need for disability insurance. Call or write the Social Security office listed in your telephone book to learn more about Social Security coverage for the disabled. Also look at other income sources before deciding your need for disability insurance. If you should become disabled and these sources of income aren't enough support for your family, check into getting disability insurance. A reliable insurance agent can help you determine the amount of coverage that best meets your needs.
Disability benefits are tax-free or subject to limited taxation under current law.
If you do need extra protection, get a policy that cannot be canceled. This means the company must renew the policy as long as you pay the premiums, no matter how poor your health might get. If the policy is guaranteed renewable, the company must renew, but can raise the premium for an entire class of policy holders. If the policy is optionally renewable, the company can refuse to renew an entire group of policies, including yours. If you're a homemaker, check to see if the extra costs of your possible disability could be covered by family income.