In the previous article, we looked at what disability insurance is, its benefits, and what it covers, and mentioned some companies that provide you with good disability coverage.
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| Main Types of Disability Insurance |
Before knowing the types of disability insurance, it is essential to know how many types of disability there are. If we talk about the type of disability, there are two types of disability. The first type is a permanent disability and the second type is a temporary disability.
Your insurance plan or insurance policy depends on the type of disability that you want to buy according to your disability. Here, let me tell you an important thing considering your labor of insurance policy, you will also consider your budget.
Whether you can pay the premium of this insurance plan or not. And the other important thing to keep in mind is whether the desired company is providing you with the required coverage.
Types of Disability Insurance
Now let's talk about the types of disability insurance. But remember here that your type of disability plan depends on your disability.
- Short-Term Disability Policies
Short-term disability policies refer to temporary disability. The waiting period can range from 0 to 14 or 15 days. This policy has a maximum benefit period of around two years. If I explain to you in simple words, it is a type of temporary disability in which the company you want provides coverage for the disability. It has a waiting period of zero to 15 days.
- Long-Term Disability Policy
Long-Term Disability Police refers to permanent disability which is a very long-term disability. The duration of this policy is very long ranging from several days to several weeks to several months giving you a waiting period. And at this time it gives you good coverage.
Before buying any policy, estimate your budget and your disability so that you don't face any problems later.
Conclusion:
In today's article, we looked at what are the types of disability insurance, in addition to what are the types of disabilities. What is the policy period? If you need help understanding something, you must ask us by commenting so that we can inform you about it. If you like this post, please give us feedback and share it. Thank you
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