When it comes to disability insurance for individuals, there are two major kinds you need to know about. Knowing what is good and bad about each major type can make a big difference if you ever need the coverage they offer.

Short term disability income insurance is available immediately if you sustain an injury or have an illness that disables you. This type of coverage can last a few weeks or up to a year or more, depending on the specifics of the plan you have. Most employers offer this kind of plan as part of their benefits package. In fact, in some areas large employers are required to make some sort of short term disability insurance, available to their employees.

If you are fortunate and your place of employment short term income replacement insurance, chances are you're involved in what's called a group insurance policy. Insurers pool people together to make the insurance more affordable for everyone. Most group policies pay out 60 percent of your salary. This figure is sometimes offset by other factors, such as worker's compensation pay or even social security.

Long term insurance for disabilities may start to pay you once your short term coverage stops paying you. Some employers do offer long term disability insurance, but frequently you are on your own to find an agent and buy this kind of additional coverage. Currently, no states are mandating that employers offer any long term disability coverage.

If you work for yourself or if your current job does not offer any sort of disability income insurance for individuals, you will need to do the research and go about buying coverage on your own. If you have a family that depend on your income, insurance coverage can put your mind at ease.

Insurance including disability insurance, of course, is something we rarely spend much time thinking about until we actually need it, but it the more thoughtful take the time to understand what sort of disability coverage you have and make sure that when one ends and the other picks up. Also, you should know the amount of benefits you will be receiving should an injury keep you from working, and whether or not it's enough to survive on. Remember that additional coverage above and beyond what your employer's policy will pay you. Although there's an extra cost involved, the money you pay on premiums may be well worth it when it comes time for you use it.

Even if your employer offers some sort of disability income insurance, you are under no obligation to take it through them. In fact, many employees opt out of their job's plan and research and buy an individual disability income insurance plan on their own. You may find that the monthly costs are higher when you go out on your own, there are many advantages to this option.

Group policies can have payout caps, either monthly or yearly, so if you're a high wage earner you may be surprised at the relatively small benefit you actually receive. Also, if you switch jobs or are fired, your individual disability insurance contract will stay with you, unlike your place of employment's plan.

Disability Insurance for individuals is something you should really think about before you actually need it. A little planning beforehand can save lots of aggravation later on.

Author's Bio: 

You can find prices for disability income insurance on the author's website. He frequently blogs and this post about long term disability insurance for individuals was recently written by the author Alston J. Balkcom.