Disability Insurance | Protect Yourself With Disability Insurance

Disability Info
Disability Info

Disability Insurance

Income or salary protection of various kinds can be sought from disability insurance companies and life assurance organizations. They often cover the costs of a mortgage, or they may cover bills and other household outgoings, in the event that a person falls ill. They may also cover a level of salary – often up to two thirds or three quarters of a person’s salary – should they lose this salary because of an illness or a disability.

Income and salary protection of this kind also includes types of disability insurance, to protect against a person becoming unfit to do their work. If you are at risk of losing a job or your salary due to a recent disability, you may require sick leave. However, an employer may only be contractually obliged to cover a certain number of sick days. After a set period of not working or not being paid for work – for example, sixteen weeks – a person’s insurance company may start to pay out on the disability insurance claim. This is a valuable premium as it allows the person to enjoy a level of comfort that they may lack on their state benefits. Disability insurance of various types may also cover the costs of a person’s rent or mortgage payments for a set period.

Benefits from the state are sometimes available when someone becomes disabled to the point where they are incapable of continuing work. Although these benefits can be regarded as a form of disability insurance themselves, they usually come nowhere near to matching a person’s salary before they became disabled. Disability insurance of certain kinds may sometimes take into consideration the state benefits to which a person is entitled, and calculate payouts based on the fact that the person will also be in receipt of state benefits.

Back to top