Rose McGiveron knows she could be one bit of bad luck away from financial hardship. A surgical technician by day, McGiveron has worked as a personal trainer for 20 years and last August, along with her business partner Marilyn Ellison, purchased Omega Health and Wellness Center in Hamburg. It was then that the woman, who earns a bulk of her income literally from the sweat of her brow, realized she was taking a big risk.

"I train over 40 people one-on-one," she says, "and if I became disabled it would create a real hardship for me."

McGiveron says because of the personal relationship she has with her clients, it wouldn't be as simple as replacing her with another trainer. A long-term disability could effectively end her business and cause untold financial ruin. "I decided it was the same thought process I went through with buying insurance on my home and my car. I'm trying to protect myself."

The answer for McGiveron was to shop for a long-term disability insurance plan that would guarantee her a source of income (typically 60 percent of the policyholder's normal salary) should she become disabled and unable to run her business.

It is estimated that less than 20 percent of Americans carry short- or long-term disability insurance. Many people assume that if they are hurt or unable to work, their disability will either occur on the job, thus opening the door for workers' compensation to foot the bill, or they will sign up for SSDI (Social Security Disability Insurance). Research conducted by the Insurance Institute of America indicates that only 4 percent of long-term disability cases stem from on-the-job injuries. Couple that with the fact that the requirements one must meet to qualify for SSDI are stringent and many people see their claims denied, and you have millions of Americans left holding the bag when a disability arises.

Brian Janak is an account executive with The Walsh Group, a West Seneca-based insurance agency. Janak says most people have it backwards when it comes to their insurance coverage.

"People purchase large life-insurance policies in case they die," he says, "but in reality you are more likely to become disabled than to die, and most people aren't prepared for that when it happens."

Janak says recent data shows that the average American of age 42 has a three-and-a-half times greater chance of becoming disabled rather than dying.

He urges people to consider how long they could survive if their ability to work was suddenly gone, and with it went their paycheck.

Matt Chandler is a Hamburg freelance writer.

Before you buy

A few things to consider if you are a first-time private disability insurance buyer:

• Short-term disability insurance costs more than long-term insurance.

• You can lower your premiums on short-term insurance by extending the waiting period before benefits take effect.

• If you pay for your insurance with after-tax earnings, your benefits will be tax-free income.

• Be sure to ask your agent about the fine print on your policy, including:

• Does your policy pay benefits if you can no longer do your job but may be able to work in another field even at a lower wage?

• Are there allowances to pay for workplace modifications that might ay allow you to return to work?

• Are there allowances for job retraining and education should you be unable to return to your profession?

• Is there a cap on the amount your policy will pay? (Typically, LTD insurance will pay until the policy holder reaches the age of normal Social Security retirement).

The best advice, experts say, is to shop around, compare policies, and make sure you are comfortable with the coverage you have for yourself. As with auto and home insurance, there are many different things you can do to lower the rate you will pay for your disability insurance so do your homework and be prepared to ask the question.

- Matt Chandler