What not to do when buying disability insurance

Don't forget to ask about riders. Riders for cost-of-living adjustments or a future purchase option can allow you to increase coverage as they earn more money without taking another physical or referencing your medical records.

Don't buy a policy before checking the insurer's financial strength. Major credit-rating agencies such as Standard & Poor's and A.M. Best offer company reports.

Don't just accept the insurance company's decision on coverage limits. Those with more variable income may be surprised at premiums and level of coverage, however particular occupations and risks are covered uniformly. More than three years of business records should clear up any questions about income levels and variability.