Even if you don't purchase a disability rider or a separate disability insurance policy, some life insurance policies provide some benefits for policyholders who become disabled.
"Usually those benefits are a disability premium waiver," says Adam Sherman, CEO of Firstrust Financial Resources life insurance advisory firm in Philadelphia. "For example, if you have a $5,000 (annual) premium and you were deemed to be disabled, the company would provide that $5,000 for that policy."
Sherman is quick to point out that insurance companies have different definitions for "disabled." While some providers define it as an inability to perform your specific occupation, others define it as an inability to perform any occupation at all. Being clear on what defines disability and whether your life insurance waives premiums in the event of catastrophe can help you find the right policy and determine your need for additional riders.