Disability Insurance is designed to replace income lost when you can no longer work due to an accident or injury. Some employers carry this type of insurance as an employee benefit, but depending on the work you do or the dangers you are exposed to, you may want to consider buying a disability policy.
There are two types of Disability Insurance:
Short Term - Provides benefits for up to two years.
Long Term - Designed to provide benefits for at least five years, until age 65 or for a lifetime.
Like Health Insurance, Disability Insurance is provided in terms of group or individual policies. Group plans usually pay a fixed total amount at about 60 percent of original income and are sometimes integrated with Social Security benefits. Supplemental plans can boost that percentage up to 70% or 80%.
Individual policies vary widely in form and can be customized to your specific need. Your iQuote local insurance expert will be able to design a policy that meets your needs.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment