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Disability Insurance

Customer Friendly Disability Insurance Coverage

Introduction

Disability Insurance is a type insurance protection that is engineered to safeguard one’s income should he or she become critically ill or injured and, as a consequence, be unable to perform work duties for a certain amount of time. It gives coverage for injury to any part of your physical body, including such invaluable aspects as eyesight, hearing, limbs and hands, and even for incapacitation, mentally speaking.

Who Needs It?

All can benefit from this type of policy protection. This is due to the fact that anyone can unexpectedly be hurt or seriously ill at any time, which can then lead to the inability to work and make income. This type of protection is often provided to an owner of his or her own business, the self-employed, regular employees and even those who are unemployed.

How it Functions

Payout levels will vary depending on the kinds of coverage picked and policies are renewable on an yearly basis. Should one become ill or injured and thus unable to perform his or her work duties, one then files a claim for financial compensation from the insurance provider. The extended payouts will be in effect until the policyholder is once again well enough to go back to work.

Premium Payments

Disability policies come with premiums that allocate the insured parties continued coverage. Private policyholders have to pay premiums monthly, though insurance companies will sometimes allow policyholders to pay one large, lump sum for a full year. People who carry insurance via their employers can usually have it taken out of their paychecks, which is easier to ensure payment consistency.

Conclusion

Disability policies usually provide employees a sizeable portion of their regular work wages. The amount varies, so be sure to talk to your agent for details.






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