Disability Income

Disability Income A policy designed to compensate insured individuals for a portion of the income they lose because of a disabling injury or illness. Policies pay out benefits for short or long term disability coverage. A disability is any condition of the body or mind (impairment) that makes it more difficult for the person with the condition to do certain activities (activity limitation) and interact with the world around them (participation restrictions). Generally disability results from the interaction between individuals with a health condition, such as cerebral palsy, Down syndrome and depression, with personal and environmental factors including negative attitudes, inaccessible transportation and public buildings, and limited social support. In Africa, one the foremost causes of disability is infectious and communicable disease; the incidence of these diseases have been greatly reduced or eliminated in higher income countries. Other causes include war, trauma, accidents, and congenital and noninfectious diseases. Disability income long-term is a policies that provide a weekly or monthly income benefit for more than five years for individual coverage and more than one year for group coverage for full or partial disability arising from accident and/or sickness. Disability income short-term is a policy that provides a weekly or monthly income benefit for up to five years for individual coverage and up to one year for group coverage for full or partial disability arising from accident and/or sickness. If you get disability payments, your payments may qualify as earned income when you claim the Earned Income Tax Credit (EITC). Disability payments qualify as earned income depending on: The type of disability payments you get or disability retirement benefits. #benewinsurance #insurtech #inclusiveinsurance #insurance #reinsurance #takaful