Just like other types of insurance, group coverage is much less expensive than individual policies. The main drawback to group coverage is sometimes you can only convert it to a watered-down individual policy with weaker coverage. Your employer may pick up part or your entire disability premium. When you check out your employer coverage, keep these rules in mind. Individual disability policies are not cheap, but you can t afford not to have them if you need them.
Individual policies can vary enormously.
The monthly amount for which you can qualify, the price, and the benefit period amount all depend upon the hazards of your occupation. If you are an attorney, your disability insurance is going to be cheaper than if you are an electrician. All of these factors are also affected by your physical and mental health. Individual disability insurance is getting harder and harder to get. Get the highest monthly benefits for which you can qualify.