Disability Insurance

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Disability Insurance is also called DI or disability income insurance, or also known as revenue protection, which is a type of insurance that claims the beneficiary’s earned income against the disability which creates the hindrance for a laborer to finish the elements of their work. For instance, the worker may experience an inability on account of psychological issues or damage, sickness or insufficiency to work or condition that causes physical debilitation. It envelopes paid sick leave, long-term disability benefits (LTD) and short-term disability benefits (STD).

Encountering a sudden loss of income because of disability could bring about obliterating financial related and personal consequences for you and your family. Fortunately, Disability benefits can help you proceed with your present way of life and perhaps keep you from depleting retirement or education investment funds and if you are unable to manage your work due to crippling or disabling injury or disease.

A few common examples of Causes of disability:

A person spends months recuperating from a car/truck accident.
An overworked doctor must “take it easy” after a heart attack.
Chemotherapy saps the energy of a busy store manager.
A stroke affects a computer programmer’s ability to reason with numbers.
An individual has been diagnosed with major depressive disorder following a traumatic event.

Consider the following:

1 in 3 people, on average, will be disabled for 90 days or longer at least once before they retire.
The average length of a disability that lasts over 90 days is 2.9 years.
A disability lasting 2.6 years translates to 135 weekly paycheques missed.
The top 5 causes of long term disability are Muscle/Bone disorders, Cancer, Accidents, Mental disorder & Cardiovascular.

We can help you get the right answers to the following questions:

What elimination and benefit period are right for you?
What are the different definitions of disability?
How can I maximuze the probability of my claim being paid out?
What riders, If any, are best to add my policy?
Can I be over-insured?

Disability Insurance