There are so many types of insurance coverage and the disability insurance coverage is one of them. However, it is among the least used coverages. Most people do not know what it is all about and for this reason, most do not bother to take up this particular policy.

The disability insurance coverage is a form of insurance that insures the beneficiary’s income against disability. In the event of an accident or illness that leaves the beneficiary disabled, that is they cannot perform their duties at work, the insurance coverage will provide a source of income to them.

It is possible to confuse the disability insurance package with the worker’ compensation insurance. These two are, however, very different. The workers’ compensation package will provide benefits in the event the employee gets hurt while on the job. The disability insurance package will provide benefits should the employee not be able to work due to a disability.

Types of Disability Insurance

Disability insurance is divided into two main types; short-term and long-term insurance.

Just like any other insurance coverage, the amount of premiums that you pay will vary depending on a couple of factors. Ideally, the price range for a disability insurance coverage will be around 1% to 2% of the annual income. The following factors will, however, affect the cost of your coverage:

There is so much more to know about the disability insurance coverage. If you would like to get more information on the coverage and get someone to help you get your own policy, give us a call at 844-540-0463 and speak to one of our agents.

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