Insurances these days have become very much needed and integral to our lives. We insure everything important in our life these days whether it is car, house or life insurance. Why not to insure your disability which directly impacts your life. It halts your ability to do work, earn and perform day to day activities in your life. Is anything more important than protecting your income these days which can make your survival easy in the present capitalistic world?
When it comes to giving your services into any profession we know that lot of amount and skill is invested in the whole process to get into that level where you must be at the present moment. But think if suddenly you are not able to work and earn because of disability your whole earning opportunities will be shattered in seconds.
Why should professionals have disability insurance?
- Cost of living – it is generally seen that with the increase in salary and position the cost of living of any professional increases over the period of time and to back your income and maintaining of living standards in case you go through disability you need to have some insurance for that and best available option could be professional disability insurance.
- Professionals can get this insurance benefits from their employers or in case if there is no such provision than you can get the individual disability insurance for professionals.
- The insurance policy can be chosen on the long term or short term basis but the most preferred one is long term disability insurance as it backs your income for a very long period of time or till the time you don’t recover from your disability.
- Although policies are amendable and flexible in nature as you can change your policy plans according to the changing needs of the time.
- Policies are portable, whereas long term disability insurance ends with the employment.
- A disabled professional can file a claim for the following disability insurances:-
- Permanent disability
- Long term disability
- Partial disability
- Partial progressive disability
- Short term disability
- We are aware of the technicalities like language, terms and conditions of the insurance policies. But, we have written the policy in simple and lucid way because we have professionals with diverse fields and the information provided to them should be in a succinct way that it is easily understandable to each and every one.
- Affordability and coverage is also something that comes in the mind of professionals. The policy becomes more affordable if you buy it in a younger age and the coverage received by you would also be on the higher side. It is always affordable when it comes to protecting your future. Something between 60-80% incomes is covered in the policy but, if you still want a high premium than this then it is possible but the cost of insurance would naturally go up.