How Disability Insurance works

Nite

Valued Contributor
Understanding disability insurance is an important step in comprehensive financial planning. It's a contract between insurance company and policyholder, where the latter is given monthly benefit amount in exchange for his payments, if he experiences a condition that affects his ability to work.

If the policyholder is covered under permanent disability policy and have become totally incapacitated, then he'll receive the entire sum assured. And if policyholder is partially disabled, he'll be paid a portion of covered amount on the basis of the degree of disability.

Always make regular payments, so that the coverage remains active. Some companies pay monthly benefit, if the policyholder cannot do a regular job due to injury, but is able to do alternative sorts of work. The benefit amount will always be almost the percentage of policyholders income. And, the benefit period can be months or years, or upto a certain age.
 

Mataracy

VIP Contributor
This is really a good policy that meant for the disability one and it will really help them.
Disable people do not have much people yo help them . so therefore if they can insured them self or been insured by some will really benefit them. The disability insurance is good.
 
OP
OP
Nite

Nite

Valued Contributor
If one is disabled and sole breadwinner in the family, then they probably need at least some form of disability coverage. This type of coverage is specially needed, if the person has children or other dependents that count on them for living and their financial support. So, disability insurance is a worthy investment.
 

lamia5765

VIP Contributor
If one is disabled and sole breadwinner in the family, then they probably need at least some form of disability coverage. This type of coverage is specially needed, if the person has children or other dependents that count on them for living and their financial support. So, disability insurance is a worthy investment.
It really depends from many cases so for example if children still study and under 18 it will be a case that is totally different if these children are married and living outside the house and have their private work or life undependant from parents but from time to time visits their parents or the third case if the children are working with parents. So for each case has his specificity.
 

sincerem

VIP Contributor
Disability insurance policy plan is noteworthy to any worker in life. Securing our life when such unheralded circumstances come through is important. No one knows what future carries, we need it to cover up incase we ruptured important part of our body, which brings to an end to our services to our employers, with disability insurance policy plan we can get coverages to take care of ourselves for life.
 
OP
OP
Nite

Nite

Valued Contributor
Yes, no one knows what future might be carrying for us, to prepare for the mishaps one should go for Disability insurance. It will include short term disability and long term disability benefits, and also paid sick leave, so that your life stay on track, and you wouldn't have any financial problem.
 

Augusta

VIP Contributor
I'm for everything that will help the disabled to get help and this is one way they can be protected to live better when the needs arise. Good that the disability insurance is put in place so thst they can take advantage of it and live a lot better. Use a legit insurance company will help
 
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