|
Disability Insurance is an insurance policy that provides coverage in the event the policyholder becomes disabled, or is no longer able to perform work necessary to earn income. Disability insurance is a source of income that allows you to both provide for your family and maintain your home.
Disability insurance policies are designed to replace anywhere from 40 to 60% of your income on a before or after-tax basis. These insurance policies will vary from company to company, so careful comparisons should be made to understand the features offered. Before purchasing a disability insurance policy, the consumer should consider:
- Renewals - provisions under which the policy can be renewed.
- Definitions - the qualifying circumstances under which the policyholder is entitled to payments.
- Residual Disability Benefits - the conditions under which the policyholder is entitled to partial payments.
|
Home 
Definitions 