With Disability Income Insurance, You May Get Out Of the Ordeal!

Disability in any form is detrimental. Be it a small injury or a long-term disability, the affected person and family get devastated. With no income to meet even their daily expenses, people have to go through a difficult phase in their life and they are left with nowhere to go.

A person who is healthy and working cannot dream of becoming disabled. But, it is a crude truth, that the people in senior age group are more prone to facing disabilities.

Here are some facts for your reference-

- People become disabled 90 days or more before they attain the age of sixty-five.
- The average disability absence is two and a half years.
- More than 80 percent of working people do not have disability income insurance or aren’t covered sufficiently.

A disability income insurance plan is premeditated to enable the family of disability struck person stay financially stable during the difficult times. It makes provision for paying a monthly income, directly to the qualified disabled person, when he is ill or injured and incapable of continuing his job.

The insurance income can be utilized for paying for the credit payments, groceries, utility bills, rent, or any other basic utilities. It is advised to make a plan for income replacement during hard times. The disability income insurance and such other plans will help the disabled person keep up his financial stability.

The disability income insurance plan will also help the person to circumvent using up the savings he may have accrued for his family at the time of his retirement. It is advised to thoroughly go through the disability income insurance policy before purchasing it.

Look for the exact definition of ‘disability’ as defined by the policy company that you have chosen. Seek for the policy that gives maximum percent of your monthly salary. The amount may vary from policy to policy. Ascertain the premium levels before going in for the policy.