There was an article on msnbc.com about Ed McMahon and the effect of injury and illness on one’s financial health. 

There were numerous points made but the key one was to “Obtain disability insurance. This should rank with life insurance as a secondary financial priority.”

Other points made included:

Be rigorous in reviewing potential long-term disability policies. Such contracts have numerous options; so carefully check occupation, income, recovery, and cost-of-living clauses. Access disabilitybenefits101.org for an independent discussion of disability benefits.

* Choose a long-term rather than short-term policy if your budget is limited. Long-term disabilities can create more expensive financial hardships.

* Review the financial strength of the insurance company before signing a short- or long-term policy. Check their ratings at ambest.com.