Healthcare professionals depend upon their medical and diagnostic skills to function. They stand to lose their income because of any unfortunate event, such as an accident or a prolonged illness.

1. Disability Insurance
What isDisabilityInsurance?
"The Social SecurityandSupplemental SecurityIncome disabilityprogramsare the largestof several
Federal programsthatprovide assistance topeople withdisabilities.Whilethese twoprogramsare
differentinmanyways,bothare administeredbythe Social SecurityAdministrationandonlyindividuals
whohave a disabilityandmeetmedicalcriteriamayqualifyforbenefitsundereitherprogram."
- Social Securitywebsite,June 2006
The Social Securityoffice willwanttocheckyour medical historytobe sure youqualifyfordisability
benefits.The Social Securityoffice isone waytogetdisabilitybenefits,butinmostcasesthese benefits
will notbe substantial enoughforfamilies.
Disabilityinsurance canbe obtainedthroughanynumberof insurance companies.Inthe eventthatyou
are disabled,thisinsurance will serveasfinancial protection.Youwillreceive apercentage of yourgross
income fromyourdisabilityinsurance policy,incomethatwill ensureyourownfinancial safety.
You do nothave to go throughthe Social SecurityOffice totake outa disabilityinsurance policy,norto
receive the benefitsfromthatpolicy.The Social Securitydisabilityprogramisnotrelatedtoany
disability insurance policythatyoutake out.
"Individualdisabilityinsurance istrulyabasicconcept.It is an insurance productdesignedtoreplace
anywhere from45-60% of yourgross income ona tax-free basisshouldasicknessorillnesspreventyou
fromearningan income inyouroccupation healthcare professionalsdisabilityinsurance.Every
disabilityinsurance policyfromeveryinsurance companyisverydifferent,thisisnotaproduct to simply
shopfor the most competitive rate.Tobuythe cheapestdisabilityinsurance policyonthe marketisto
throwmoneyaway.The odds of gettingpaida monthlybenefitunderacheapcontract may be
significantlylowerthanreceivingbenefitsfrom aqualitycontract."
- AboutDisabilityInsurance website,June 2006
Typesof DisabilityInsurance
Most people are familiarwithtwotypesof disabilityinsurance:short-termdisability,andlong-term
disability.Short-termdisabilityinsurance isincludedaspartof a benefitspackage withmanydifferent
employers,andusuallyprovidesanincome inthe earlypartof disability.Short-termdisabilityinsurance
generallyprovidescoverageforaperiodof several weeks,anddoesnotexceedatwo-yearterm.
Long-termdisability,however,canlastfora periodof several years.These typesof policiesmaybe
includedasa part of employment,inabenefitspackage,butmanypurchase these disabilityinsurance
policiesindividually.

2. As faras disabilityinsurance goes,however,there are still more policiestolearnabout.One type of
disabilityinsurance isthe Own-OccupationDisabilityInsurance.The definitionof thispolicyreads:
"The inabilitytoperformthe material andsubstantialdutiesof yourregularoccupation,the insurance
companywill consideryouroccupationtobe the occupationyouare engagedinat the time youbecome
disabled,theywill paythe claimevenif youare workinginsome othercapacity."
Anotherkindof disabilityinsuranceisthe Income ReplacementInsurance.Thisisaverypopulartype of
disabilityinsurance,andmostinsurance agentsare familiarwiththispolicy.The language of thistype of
disabilityinsurance reads:
"Because of sicknessorinjuryyouare unable toperformthe material andsubstantial dutiesof your
occupation,andare not engagedinanyotheroccupation."
Commoninemployee benefitspackages,GainfulOccupationCoverage isanotherpopularformof
disabilityinsurance.The language here iswordedverycarefully:
"Because of sicknessorinjuryyouare unable toperformthe material andsubstantial dutiesoryour
occupation,orany occupationforwhichyou are deemedreasonablyqualifiedbyeducation,training,or
experience."
Robertco-foundedInsurance4USA.com, an insurance quote shoppingservice
[http://www.insurance4usa.com/],in1999. He has beena licensedinsurance agentinNew YorkState
since 1990.