Disability Insurance -
Disability insurance comes in many forms and can be obtained through a wide range of providers for a wide range of prices. The price of a disability insurance policy will be dependent upon the length of the elimination period, the benefit period (how long a person is able to receive the disability benefit), and how strict the definition of disability is under the policy.
Each policy can have its own definition of what qualifies as "disabled," so it is important to understand these rules before buying a policy. The two most common definitions are "own occupation," where a person is considered disabled if they are no longer able to perform the occupation they had prior to becoming disabled, and "any occupation," where a person is considered disabled if they are unable to perform any job at all.