Disability Insurance Everything You Need To Know}

Disability Insurance – Everything You Need To Know

by

DennySean

Life is full of uncertainties and surprises. Many times, it throws something towards us that change our life completely. An accident or illness can leave deep impact on our body and render us partially or completely disabled. Even though, there is no way to predict the possibility of such an event in our life, we can surely safeguard ourselves from it.

Disability insurance is the best way to insure you and your familys future, in case of a disability. Insurance companies offer two kinds of disability insurance:

a.Short term disability insurance Insurance for disability due to short term (curable) injury or disease.

b.Long term disability insurance Insurance for disability that renders a person disabled for a period of more than 6 months.

c.

Who qualifies for Short Term Disability Insurance?

Short term disability insurance is normally provided by employers to the employees. However, an individual can also purchase short term disability insurance for himself. This insurance pays the insurer a fixed amount of money for a short period of time. This period is usually less than 6 months. The payout can be according to the terms and conditions of the employers agreement. Each employee must enquire about this with their immediate supervisor.

Any insured person who has becomes temporarily unfit to work and earn a living for a short amount of time, qualifies for short term disability insurance. However, there is usually a grace period after which the person can qualify for the payment.

Who qualifies for Long Term Disability Insurance?

Long term disability insurance is normally provided in case of an injury or illness that renders a person unable to perform his job. The person must be disabled for at least six months to qualify for long term disability insurance. This insurance also covers mental injuries and illnesses.

Main points of Long Term Disability Insurance:

An insured person must give due attention to the following points, regarding his or her disability insurance:

a.Pre existing condition clause

b.Is the monthly payment taxable or not?

c.Does your employer provide long term disability insurance?

d.Amount of monthly payment in case of a disability.

Besides these, there are number of other issues regarding this type of insurance, which must be checked and researched by the insured person.

Disability insurance has become a necessity, in this day and age. But most people are not aware of the exact terms and conditions of their insurance. If the insurance premium is paid by the employer, then they must gather all the information on their disability insurance from your company.

In case of personal disability insurance, a disability insurance quote can be procured from a good source. There are many websites available which provide this information. The person who is buying the insurance must read all the documents carefully and get the most suitable policy.

Disability insurance is essential for every professional, no matter how much actual risk is involved in his profession.

Writer of this article owns a website called “DisabilityInsuranceQuotes.Net”, which is great place to get

disability insurance quote

, if you are looking for

disability policy quote

then we are here to help you, visit us now for more information on

disability insurance

.

Article Source:

Disability Insurance – Everything You Need To Know}