Insurance is a protector which saves you from any financial loss during an unfortunate event occurred in normal routines. There are many types of insurance related to your life, health, and business. You pay a premium to the insurance company and they help to recover your losses whenever needed according to policy.
Now we will discuss the disability insurance, about disability insurance, its coverage, and its benefits.
Disability Insurance may define as the insurance which provides income to the worker in case of any injury, illness, or disability, and he is not able to continue his work. It is also known as Disability Income Insurance.
Types of DI
Disability Insurance is of two types
Short-term disability policy
This policy provides quick insurance after an accident and the employee gets well soon and continues his job.
Long-Term disability policy
This policy gives insurance to the worker for a long time as his injury or illness does not recover soon. Or may illness lasts for years.
Social Security Disability Insurance
Social Security Disability Insurance is also known as SSDI. if you are not able to buy personal insurance policy and want someone to meet your expenses, you choose SSDI. It is a federal policy and will give you after a with-drawn application. Only one-third applications get approval.
Individual Disability Insurance
You get individual disability insurance personally, it does not provide to you by your office or job. You pay the premium on your own for this type of insurance. In case of injury or sickness, it covers most portion of your pay or salary.
Disability can be defined as, a person with any physical or mental sickness which limits any life activity. Disability is of many types, it can be visible or invisible. Disability is not only a person in a wheelchair, it can be any physical or mental illness such as blindness, deaf, weak thinking, and weak mental health.
A person may disable by birth or get a disability later in life due to an accident, which affects his functioning of cognition, mobility, vision, hearing, movement, etc.