Catastrophic Disability

Catastrophic Disability Catastrophic disability is a severe disability that prevents a person from performing basic activities of daily living (ADLs), such as bathing, dressing, eating, toileting, and transferring. It can also be caused by a loss of sight, hearing, speech, or use of both hands, both feet, or one hand and one foot. A catastrophic disability policy is one that pays benefits only if a claimant is so severely impaired by accident or disease, the claimant cannot do even the most basic activities of daily living. Catastrophic disability insurance benefits are typically paid in a lump sum or as a monthly benefit. The amount of the benefit will vary depending on the policy that you purchase. Catastrophic disability can be caused by a variety of factors, including: -Accidents, such as car accidents, falls, and workplace accidents -Illnesses, such as stroke, cancer, and multiple sclerosis -Neurological disorders, such as -Parkinson's disease and Alzheimer's disease -Birth defects It is a rare clause or rider that provides additional funds, above your normal disability policy benefits. It is more likely to be included in an individual disability policy rather than a group policy. A catastrophic disability will pay a claimant an increased monthly benefit, on top of the standard disability benefit, if the claimant can meet the more difficult catastrophic definition of disability. Catastrophic disability insurance is an important financial safety net for people who are at risk of becoming catastrophically disabled. It can help you cover the cost of your medical expenses, lost income, and other expenses related to your disability. #benewinsurance #insurtech #inclusiveinsurance #insurance #reinsurance #takaful