If you need disability coverage, Social Security probably won’t be enough

You should not depend on Social Security disability. To qualify, you must be unable to work in any substantial job. (The Social Security requirement: “Your condition must interfere with basic work-related activities.’’) You will not qualify for benefits for at least five months after the event that disables you. And you will not be approved unless a doctor certifies your disability will last at least a year.

About two-thirds of all who apply for Social Security disability benefits are initially turned down. Appeals are time-consuming.

If your employer does not offer disability coverage (or offers inadequate coverage), you could buy insurance on your own. Unfortunately, individual policies are expensive, and terms vary greatly. The cost will depend on your age, health, sex, state of residence, occupation, and smoking habits. The safer your occupation, the lower the costs and the higher the benefits. Women are generally charged more than men because they make more claims, on average. Some states require unisex pricing.

The first step is to determine the monthly income you require. If you have a limited budget, you can consider an annually renewable disability income policy. The premium will be low initially and will increase a little each year. A traditional disability policy is more expensive initially, but the price is fixed for the entire term of the policy.

Some policies are “non-cancellable and guaranteed renewable.’’ This means there can be no change in premium or your monthly benefits, up to a specified age. Other policies are “guaranteed renewable.’’ This means that policy terms can change, with state approval. Guaranteed renewable policies are generally 10 to 20 percent cheaper.

Policies that protect you for two to five years will be less expensive than policies that last until age 65. Some insurers offer lifetime protection, but this costs more. It is crucial to understand the definition of disabled in your policy. Some policies specify you are disabled if you can no longer perform the functions of your current occupation, but they allow you to get another job and still be eligible for benefits.

Selecting a policy is complex. See nahu.org.

Elliot Raphaelson can be reached at elliotraph@gmail.com.