Disability Insurance is very advantageous and beneficial insurance for those individuals who are specially-abled. This insurance covers the expenses of challenged and disabled citizens in a situation where a particular event or circumstance hamper their growth and hinders them from going for their routine work-life.
Advantages of Disability Insurance:
The insurance agency's monthly payment includes other expenses covered in a normal month, such as children's education fees, interest on loans, monthly installments, and house rent.
What is Elimination Period?
The elimination period is between the onset of the injury and benefit payment received from the insurer. Also known as the qualifying period, it requires the policyholder to qualify before benefits are paid.
Factors affecting elimination period:
- Disability insurance ensures that thereis no need to break up your savings, investments and long-term insurances for future uncertainties.
- Your family needs and obligation are also fulfilled side by side.
What is Benefit Period ?
A benefit period allows the policyholder and its dependants to receive payment for the covered event. The benefits period depends on the clause of the Insurance agreement. Regular inspections are done to determine the individual's health. Once the condition is back to normal monthly benefits are stopped, and the arrangements are looked over again.
- Premium paid by the insuree
- Pressure asserted by the individual
- Terms and conditions mentioned in the agreement
