You should buy long term care insurance to protect your assets and health in the case of
a disabling accident or illness that prevents you from attending to daily tasks of self care, like bathing and food preparation.
While most everyone insures their homes, cars, boats and even their lives, many fail to plan for
a disabling accident or illness.
The probability for
a disabling accident or illness is greater than death for all ages under 65 and if a disability strikes, the costs of living will continue whether you can work or not.
Key man disability insurance is a unique form of disability coverage designed specifically for the threat of a short term loss of a key person due to
a disabling accident or illness.
Unfortunately,
a disabling accident or illness can happen suddenly, and you may find that the steady income you relied on from your job is gone.
Simply put, disability insurance protects your income in the event of
a disabling accident or illness.
Below are some statistics on disabilities that emphasize how important it is to protect your family from
a disabling accident or illness.
If you were to lose that ability due to
a disabling accident or illness, how would you pay your bills, send your kids to college, and save for retirement?
Not exact matches
Soldiers with PTSD are more likely to be
disabled or to die from
accident or illness than those who do not, even decades later.
In the event you experience a life - altering
accident, injury,
or illness or become permanently
disabled, your circumstances may warrant a permanent change to your child support order.
If you have recently become
disabled due to a work injury,
accident,
or illness, you should not hesitate to find out if you qualify for Social Security disability.
Disability insurance will provide replacement income in the event that you can't work due to a
disabling illness or accident.
If you become
disabled through
illness or accident, you may be able to continue drawing part of your salary if you had enough years on the job before the disability occurred.
What happens when an unexpected
illness,
accident or disease leaves you either permanently
or temporarily
disabled?
It is important to note that some disability income riders will pay out only if the policy holder becomes
disabled as a result of an
accident, while others will pay for an insured's disability due to either an
accident or an
illness.
Keyman Disability insurance is designed to protect the business in the unfortunate event that a key employee
or executive suffers a
disabling accident, injury
or illness.
Because it replaces your income should you become
disabled due to
illness or accident and can not perform the duties, demonstrate a loss of time,
or suffer a loss of income from your job.
With some disability income riders, the stipend will be paid out only if you become
disabled due to a work - related
accident, while others will allow payment regardless of whether you became
disabled due to a personal
accident or illness.
If the insured person dies
or gets totally
or partially
disabled through a natural
illness, such disability (
or death) will not be covered under a personal
accident policy.
BSLI Waiver of Premium Rider (UIN: 109B017V02): In the event of death of the proposer
or any other eventuality, wherein, the proposer becomes completely
disabled due to an
illness or accident,
or is diagnosed with any of the specified critical
illnesses, then all the future premiums of the base plan along with the attached riders are waived off for the remaining policy term
or till the proposer attains the age of 70, whichever is earlier.
In case you develop a critical
illness or are
disabled due to an
accident, such incidents may result in loss of income and may lead to financial crunch.
Waiver of Premium — Finally, another popular choice seems to be the waiver of premium which will see all premiums waived on a policy should you be
disabled due to an
accident or illness.
Disability insurance typically provides you with financial security by replacing a part of your earnings when an
accident or illness causes you to become
disabled and unable to work
or earn an income.