Disability Insurance

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Disability Insurance Disability insurance is a type of health insurance which pays the insured a monthly benefit, replacing earnings lost from an accident or sickness that prevented them from working and earning an income. The primary purpose disability insurance provides benefits to replace lost income when an insured becomes unable to work because of illness and/or injury. It is designed to replace a percentage of your income if the unexpected happens. In some jurisdictions, individuals can obtain disability insurance from the government through the Social Security System. The good thing is disability insurance is available through both public and private programs. There are two main types of disability insurance: short-term and long-term. Short-term disability insurance typically pays benefits for a period of 3 to 6 months, while long-term disability insurance can pay benefits for a period of up to 2 years or even longer. Some of the variables affecting the cost of disability insurance include the strictness of requirements for qualifying under the plans, the amount of income to be replaced, the length of time in which benefits are paid; the medical history and the length of time policyholders must wait before beginning to collect those benefits. #benewinsurance #insurtech #inclusiveinsurance #insurance #reinsurance #takaful

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