Financial ease even in a state of a random disability!
Disability Insurance
Avoid sudden financial pressure due to unexpected short-term or permanent disablement. Invest in a Disability Insurance plan to support you and your family during the challenging time.
What is Disability Insurance?
Disability Insurance is a beneficial Insurance plan that can support you financially. It will provide coverage if you, as a Policy Holder, become disabled and cannot earn your regular earnings. The reason for disability could be anything like a sudden accident, illness, or mental issue. Whatever the reason, the Insurance policy will support you in this difficult time.
It is evident that a personal disability disables the person from living a regular life considering the earning for living, a part of it. In such a situation, if you would have already opted for disability Insurance, you can easily manage your expenses. You can use the insurance money for medicinal costs, pay your expenses, and other matters.
How does it work?
Disability Insurance, unlike Critical Illness Insurance, won’t provide you with lump-sum money. Instead, the Disability Insurance will avail you some percentage of your salary money that you were earning before you got disabled. However, during the claim, it must be apparent that your disability must be severe to hinder you from working and earning money.
Usually, Insurance holders get two-thirds of their earning salary on their Insurance coverage which is available at the end of each month. Another difference between Critical Insurance and Disability Insurance is that
in the case of disability insurance, the policyholder constantly gets the money till the plan limit, which is not the same as Critical Insurance.
Many Employers choose this Insurance plan for their employees. However, you can still select accidental disability insurance, even if you are self-employed.
What are the types of Disability Insurance plans and their benefits?
Short-term disability insurance
Considering the scenario, you got some short-term temporary disability. In that case, the Insurance claim starts after your paid sick leaves are finished. The plan can cover up to a period of 15 weeks, 26 weeks, or 52 weeks. The policy’s coverage can vary depending on the Disability Insurance plan.
Some Employers don’t opt for policies that cover short-term disability. In that case, you can apply for Employment Insurance (EI) sickness benefits.
Long-term disability insurance
Sadly if you get some long-term total disability, your long-term disability insurance coverage starts after the short-term disability insurance plan coverage ends. Some professionals also term it permanent disability insurance as covering permanent total disablement. Mostly the policy will cover 60% to 70% of your income. Still, the Insurance coverage will be affected by the uppermost limits on your plan. Along with this, the coverage period and percentage will depend on your chosen policy.
Why Choose Amit Rana Insurances?
Affordability: Mr. Amit Rana provides affordable services that are reasonable and true to their price.
Customized Plan: Mr. Amit Rana can customize insurance plans that suit your needs best.
Great customer experience: With great proficiency, Mr. Amit Rana offers excellent insurance services for his customers.
Trustworthy: All the services are legal, and the trust of thousands of customers served so far.