The word insurance means an assurance to cover the loss that might occur from the harsh winds of fate in exchange of some premium.
When the word insurance comes to the mind people think of the life insurances cause if anything happens to the sole earner you have the insurance to pay for the house and the children can continue their education.That’s the reason why life insurance is considered necessary.

Other that the life insurance there are many worst things that can happen in ones life like disabily where sole earner of the family gets disabled and he looses his job too. At this point we have to consider the disability insurance too cause if the person is disabled there is no use of having the life insurance. People normally neglect the disability insurance which is as impotant as life insurance is.Industry studies have shown that workers are three to five times more likely to be disabled than die early.While premature death tends to have a bigger emotional impact ,disability can be equally,if not more, devastating to a family's financial stability.

There are long term as well as the short term disabilities with different sub categories.
Lack of amputation of limbs or other body parts
Physical impairments affecting movement.
Neurological impairments.
Sensory impairments, such as visual or hearing impairments
Psychiatric conditions
Cognitive impairments.

There is a high demand not only for life insurances but also disability insurances where people meet with accidents or are diagnosed of the serious life threathing diseases.

Depending on the nature of disability, there are various different policies to suit your needs and requirements
There are two types of disability insurances:
Long Term Disability(LTD) policies have a waiting period ranging from a few years to the rest of your life.
Short Term Disability(STD)policies have a waiting period of 0 to 14 days with a maximum benefit period of two years.

Important features of dissability policies:
1.Insurance policy cannot be cancelled by the insurance company if it says its noncancellable, except for nonpayment of premiums. This gives you the right to renew the policy every year without an increase in the premium or a reduction in benefits. 2.Guaranteed renewable gives you the right to renew the policy with the same benefits and not have the policy canceled by the company. However, your insurer has the right to increase your premiums as long as it does so for all other policyholders in the same rating class as you.

Along with the disability policies,there are several options you should that should be kept in mind when purchasing a policy: Additional purchase options Your insurance company gives you the right to buy additional insurance at a later time.

Synchronization of benefits The amount of benefits you receive from your insurance company is dependent on other benefits you receive because of your disability. Your policy specifies a target amount you will receive from all the policies combined, so this policy will make up the difference not paid by other policies.

Cost of living adjustment(COLA) This provision increases your disability benefits over time based on the increased cost of living measured by the Consumer Price Index. You will pay a higher premium if you select the COLA.

Residual or partial disability rider According to this you to return to work part-time, collect part of your salary and receive a partial disability payment if you are still partially disabled.

Return of premium This provision requires the insurance company to refund part of your premium if no claims are made for a specific period of time declared in the policy.

Waiver of premium provision This clause means that you do not have to pay premiums on the policy after you're disabled for 90 days.

Always remember that policies are legal contracts if you decide to buy a private disability insurance policy. Read and compare the policies and understand the provisions before you sign. While comparing policies, you might want to consider: Is disability defined as your inability to perform your own job or any job? Does the policy cover accidents and illness? Are benefits paid for partial or recurring disabilities? Are full benefits paid after loss of sight, speech, hearing or use of limbs? Is the policy no cancelable, guaranteed renewable or conditionally renewable? How long must the worker be disabled before premiums are waived? Is there an option to buy additional coverage, without evidence of medical insurability, at a later date? Does the policy offer an inflation adjustment.

Depending upon one's necessities, he or she can choose the best disability insurance to suit their needs as there are many disability insurance companies and agents all around the world to offer their services. All you have to do is keep your eyes open, consider all the points and make an appropriate selection of the type of insurance you need to have a safe future.