Disability Insurance by primusboy


									Disability Insurance
Disability can occur at any time. While many people take their body and
health for granted, serious accident or injury can happen to anyone and
if you find yourself disable, for a short period or long term, how will
you cope?
Disability insurance is a sub set of health insurance that will provide
the holder with income should they become disabled and thus unable to
continue earning a living. If this were to happen to you, do you know
what you or your family would do for income?
If you are aged 40, there is a higher chance that you will be disabled,
and thus unable to work for a period of 90 days or more, than of you
dying before the age of 65. There are three common ways of insuring
against this risk.
Employer’s Insurance
The first is to receive insurance from your employer. This is required by
law in many states. It comes as a form of short or long term paid sick
leave. Larger employers can have even more generous terms. For example, a
common policy might offer you 60% of your salary for five years, or maybe
even all the way up to retirement. While not everyone is lucky enough to
work for such a company, it is worth checking with your employer to find
out what your protection is and whether or not its something you wish to
provide for yourself.
Long Term Disability
The second common protection against this type of risk is social security
and disability benefits. This usually only covers employees whose
disability lasts for a period of 12 months or more. It also must be shown
to be so severe that you cannot find gainful employment. Therefore there
are some gaps here that you may be more comfortable providing for with
private insurance.
Individual Policies
The third method of dealing with this risk is with an individual
disability insurance policy. This means taking out a private insurance
policy yourself. You should shop around to make sure you get the best
deal available, but at least you will have the peace of mind of knowing
in what circumstances you are covered and what the terms of the policy
There are some other sources of protection. Workman’s compensation
policies will sometimes step in to cover you if the injury occurred at
work. Auto insurance may provide coverage if the injury occurred in a car
accident and the Department of Veteran’s affairs can advise you if you
think the disability is related to service in the armed forces.
Joseph Kenny is the webmaster of the insurance site
http://www.insure121.com/ where you will find information, news and links
to the leading providers of insurance in the UK. If you found this
article interesting you may find more articles of the same nature in the
insurance guide located on site.

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