How Does Disability Insurance Work

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Most people will face a serious illness of some sort during their life. Some illnesses may be temporary and overcome with treatment, such as cancer that is treatable with radiation. Some conditions may be chronic and incurable, such as multiple sclerosis that affects the ability to perform daily living activities.

Because the likelihood of having this type of illness is common, some people purchase disability insurance. The policy helps financially protect people in case they are stricken with an illness that temporarily or permanently makes it impossible for them to work.

This type of policy provides money to the policyholder as long as they are disabled. The policy may also pay if the policyholder becomes partially disabled. This will apply, for example, if the policyholder loses the ability to use one arm or has lost sight in one eye.

An insurance agent can help with the purchasing of this type of policy. The person might also purchase the policy from the company offering the insurance. This type of insurance is generally affordable, and available to fit most incomes.

This type of insurance is available in some employee benefit packages. This type of policy is common in jobs where employees face a high risk of being hurt on the job. Police officers or firefighters are good examples.

Disability insurance offers enormous benefits. Any disability, even temporary, makes it difficult to earn money. A disability policy helps people facing a health problem remain financially stable.

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Date added: May 18, 2021