Disability Insurance is also called DI or disability income insurance. It helps to claim the beneficiary’s earned income against the disability which creates the hindrance for insured to work due to an injury or illness. For instance, the worker may experience an inability on account of Physical injury or a sickness or Illness. 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 your savings to pay a mortgage/bills and retirement savings if you are unable to work.
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 maximize the probability of my claim being paid out?
- What riders, If any, are best to add my policy?
- Can I be over-insured?
Munish mehan arranges Disability insurance for the Individual contractor or self employed. You can reach him at [email protected] 0r 587-718-8001
Please be in touch if you need any assistance. www.Thesupervisa.com, 587 718 8001
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