It is one of the most important and complex types of coverage a person can obtain. The only difference between disability insurance and life insurance is that it isn't focused on your death but merely on your disability.
It basically aims at providing financial security to disabled people, so that they don't compromise with their lifestyle just because of the money. If you are heavily injured during the job, and cannot work, disability insurance will give you a peace of mind by providing options to replace the lost income. Even though it t is not going to fully replace your income, it will provide an incentive for returning back to work till you get well.
Therefore, it is a wise choice to get a policy to cover you during your working life. Disability Insurance can be obtained by an individual or by an employer for their employees and it can be further classified into 2 categories namely short-term disability policy (from 6 weeks to 2 years) and long-term disability policy (Greater than 2 years or even till survival)
Benefits include coverage for
1. Long term and recurrent disability
2. Catastrophic disability
3. Rehabilitation programs
4. Transplant surgery
There are policies that covers at least 40% or better yet 60% of your take-home pay. So it іѕ important tо discuss аll аvаіlаblе options whеn choosing а this policy tо ensure thаt уоu get aware of whаt уоu wіll receive іn thе event оf аn accident оr illness so contact us for an expert assistance.