According to the American Council of Life Insurers, about one third of the citizens on that country suffer from a disability after the age of 35. The disability insurance works to meet these people’s needs for insurance. Many people forget that all insurance payment is based on people’s employment income. This is why a disability insurance is so important, because if you become disabled you will not be able to maintain your income.
There are two basic types of disability insurance plans, the long term and the short term.
The short term disability insurance provides coverage for two or three months in case you suffer any unexpected accident or become sick and unable to work. The disability insurance usually pays part of your salary (usually about 60%) until you recover.
The kick in time for coverage payment will depend on the seriousness of your injury or illness. Depending on the situation, also a retroactive payment can be done.
If you do not have any savings yet possible help from parents to pay for a non-working period in case of disability stricken, disability insurance may be a good option.
On the other hand, a long time disability insurance plan pays you a monthly sum if you become disabled and unable to work on your previous occupation anymore.
Either a short term or a long term disability insurance policy can be purchased by the employer or individually.
Disability Insurance Resources
Provides own occupation disability insurance quotes for physicians and dentists.
About Disability Insurance
Informative website about disability insurance, covering topics such as the defition of total disability, elimination period and renewability.
Social Security Online - Benefits For People With Disabilities
Information on what benefits are offered by social security for people with disabilites and general information on disability insurance.
Protect Your Income - Online Source For Disability Insurance
Information and guidance on disability insurance for professionals including physicians, resident physicians, dentists, attorneys and individuals.
III - Insurance Information Institute
Information and answers about all the details referring to disability insurance.
Health claims consulting and Social Security disability secrets. US based.
Disability Insurance Blog
An excellent resource for medical residents and other medical professionals while considering the purchase of disability insurance.
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