Health Insurance Factors to consider when purchasing a disability policy

[Phabbyfundz]

— Additional purchase option; the insurance company gives the policyholder the right to buy additional insurance at a later time.
— Coordination of benefits; the amount of benefit policy holders receives from their insurance company depends on other benefit they receive because of the disability. The policy specifies a target amount the policy holder would receive from all the policies combined and would make up the difference not paid by other policies.
— Cost of living adjustment; this increases disability benefits over time based on the increase cost of living measured by the consumer price index. Policy holders would pay a higher premium if they select this option.
— Residual or partial disability rider; this provision allows workers to return to work part time collecting part of their salaries and receiving a partial disability payment if they are still partially disabled.

 

[Chibson]

Generally, it is very important to consider a lot of factors before purchasing an insurance premium. you also need to consider your level of income and your ability to keep to the agreement which you and the insurance company will have. Cost of living adjustment is also very important for you to consider.

 

[btaliat]

While going for disability insurance, it is important to know whether the disability can be managed without any insurance company. This will prevent wasting of money paid as premium for the insurance company. And then just like the firdt commentator said, there should be consideration on the sources of income as well.

 

[Wisdom01]

Wow I never knew the cost of living would also have effect , that means if the premium is agreed at a certain amount , it can still increase overtime and the person would per more , but how would the cost of living be calculated to determine the premium payable

 

[Mandy96]

Well a disability policy is made to provide coverage for someone that is disabled. I think insurance companies has got everything covered in the sense of plan. What one has to know is the fact that you will still get to pay the premium despite the fact that the client is not physically able

 

[btaliat]

To make this insurance policy more effective and stress free. I think government of every country should be responsible for paying the premium under this insurance policy on behalf of these people because they may not afford the prices of this premium based on the fact that most of them cannot even work

 

[Wisdom01]

Well a disability policy is made to provide coverage for someone that is disabled. I think insurance companies has got everything covered in the sense of plan. What one has to know is the fact that you will still get to pay the premium despite the fact that the client is not physically able

I think even if the person is not disabled he would still pay the necessary premium and when he is now disabled then the person might start getting coverage for the risk and proper treatment , most workers who deals with risky jobs usually go for their type of insurance policy incase of any disability they would get protection against it