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Protect Your Income, Secure Your Future

Disability Insurance

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What is Disability Insurance?

Disability insurance provides financial protection by replacing a portion of your income if you are unable to work due to illness or injury. It ensures you can cover essential expenses during your recovery period. Policies vary, but coverage typically ranges from 60-80% of your income.

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Why Do You Need Disability Insurance?

Life is unpredictable. Whether it's a car accident, household mishap, or sudden medical diagnosis, unanticipated misfortunes can strike at any time. Disability insurance ensures you have income support if an injury or illness prevents you from working. Premiums vary based on age, income, occupation, and the level of coverage you choose.

Terms Used in Disability Insurance Policies

01

Benefit Amount

Disability insurance typically covers 60-80% of your income during your leave from work, helping to meet basic needs when you have no other income source.

02

Term of Benefits

Coverage durations vary: annual, two-year, five-year, up to a specific age, or even lifelong plans. Longer coverage terms generally come with higher premiums.

03

Elimination Period

The elimination period is the waiting time from the onset of disability to the receipt of benefits. Choosing a longer elimination period can reduce premiums.

04

Noncancelable

A noncancelable policy guarantees that the insurer cannot cancel your policy as long as premiums are paid, and premiums cannot be increased. This type of policy typically costs more due to its stability.

05

Guaranteed Renewable

A guaranteed renewable policy cannot be canceled by the insurer, but premiums can be increased for all policyholders in the same class. These policies are generally cheaper than noncancelable ones.

06

Own /Any Occupation

Own Occupation: This coverage pays benefits if you are unable to work in your specific profession.


Any Occupation: To receive benefits, you must be unable to work in any job suited to your education and training.

Common Questions

  • How much of my income will disability insurance cover?

    Disability insurance typically covers 60-80% of your income during the period you are unable to work due to illness or injury.

  • What is the elimination period for receiving benefits?

    The elimination period is the waiting time from the onset of disability to the receipt of benefits, ranging from 60 days to two years, with an average industry waiting period of about three months.

  • What is the difference between noncancelable and guaranteed renewable policies?

    A noncancelable policy ensures the insurer cannot cancel your policy or increase premiums as long as you pay them, while a guaranteed renewable policy cannot be canceled but allows for premium increases for all policyholders in the same class.





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