Disability Insurance

What is disability insurance?

Disability insurance provides a fix amount of money as monthly income supplement to those who are unable to work (get disabled) because of an accident or sickness. If you become disabled, your ability to earn normal income may drop and your ability to pay bills, keep lifestyle or save for retirement will decline.

For who is good to have disability insurance?

According the statistics; the chances are way greater that a person will become disabled in a given year than he/she will die. Up to the age of 50, the chance of suffering a disability (at least 90 days) is eight times as great as the chance of death.

Disability insurance is a peace of mind that income protection can provide for; Professionals, Business owners, Business executives and Full-time, Part-time or Home-based workers.

Is disability benefit payable fix or may variable?

Disability insurance policies replace a portion of the income. It depends on disability insurance plan they may vary in whether disability supplement income are received; if you can’t perform the duties of your own occupation, a job in your field or any occupation at all.

How is benefit payable for disability insurance?

A life insurance benefit is payable in a lump sum bases to the beneficiary of the contract but Disability insurance benefits are almost payable on a monthly basis, during disability period.
Those whose employers do not provide benefits, and self-employed individuals who desire disability coverage, may take their own policies from insurance companies.

Is disability income taxable?

It depends on who paid the premium of your disability insurance. If your employer paid, your benefit is taxable like normal income but if you paid the premium your receivable monthly benefit is not taxable.

How premium of disability insurance is calculating?

Premiums and benefits for individual coverage vary between different insurance companies and individuals in different occupations.
Generally speaking, premiums are higher for policies that provided more monthly disability benefit, pay the monthly benefit for a longer period of time, and according “waiting period” start payments for benefits more quickly following disability occurs.

Where can we take disability insurance?

Whether you need to secure your main source of income or supplement coverage received from your employer or an association, we as your adviser can help by providing an accurate disability plan that suits your need from credible insurance companies.

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