Protecting your family from loss of income due to disability is just as important as the other types of insurance, yet most Americans severely underestimate their potential need for disability coverage. According to the Council for Disability Awareness, 64 percent of workers think their chances of being disabled for at least three months are 2 percent. But the Social Security Administration says anyone entering the workforce today has a 25 percent chance of being disabled for three months over the course of his or her working life. Buying your own policy offers advantages over group coverage. Private policies can return 70-80 percent of your income, start paying out faster and carry fewer restrictions. Your premiums are not taxable when you buy your own policy. The Society of Certified Public Accountants lists the following items to bear in mind when shopping for disability insurance.
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