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Disability insurance is one of the most overlooked forms of coverage despite it being one of the most necessary types of coverage. The odds of becoming disabled because of an accident, injury or illness can be up to 1 in 4 people according to the Social Security Administration. The average duration of a disability insurance claim is 34.6 months. With open enrollment approaching, consider opting in for group disability insurance. And if you are self-employed or otherwise do not have access to a group disability insurance, you should consider an individual disability insurance policy. Keep in mind, that even if you have group (employer) disability insurance, that you may not full coverage as some group disability insurance will only cover 50% of your salary (excludes bonus & commissions) along with the benefit being subject to income tax. Individual long term disability insurance benefits are not subject to income since premiums are payable on an after-tax basis. To find out your chances, you can use the Personal Disability Quotient Calculator from the Council on Disability Awareness.

It’s important to note that while the U.S. Government has the Social Security Disability Insurance program, it can be difficult to qualify for and may provide insufficient benefits. Here’s Why you shouldn’t rely on Social Security disability insurance.