Disability income insurance can meet all your financial needsWritten by Ivon T. Hughes
Disability income insurance can cover you in event of a severe accident or illness but, it really depends on how much disability income insurance you purchase as to whether or not it will be able to meet all of your financial needs. The greatest number of families have no form of disability income insurance.Short term disability income insurance covers first few months you are disabled and benefits of short-term disability income insurance, are many . Short term disability income insurance is a temporary relief though. If your condition prevents you from working for more than covered period, then you will need to rely on long term disability income insurance. Disability insurance can be purchased up to a certain percentage of your income and is tax free if you pay for it yourself. Disability insurance does not mean you have to take maximum but you would be wise to take sufficient to cover your monthly bills, even if you give up covering some items.
| | Disability Insurance for the Long TermWritten by Ivon T. Hughes
Disability insurance covers you for an extended period of time. Should you be injured or take ill and as a result be unable to perform duties of your employment, you will be covered under short term disability, then long term disability insurance will cover you. The coverage can be for a period ranging up to five years or until disabled individual turns sixty five.Long term disability insurance is often provided by your employer as part of your benefits package. If you purchase it on your own, benefits are tax free. Disability insurance on an individual basis makes great sense as if involved in an accident you are more likely to be disabled than die. Therefore it can be argued that it makes more sense to buy long term disability insurance than life insurance. Disability insurance policies differ from one provider to next. It is important that you do your research and find disability insurance policy that best meets your needs with insurance company that you trust most. Insurance companies, through an independent insurance broker, will gladly offer you disability insurance quotes free of charge. You can get quotes online now which is easiest way as you are not being pushed by an agent.
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