Disability is more financially disastrous than an accident. If you are disabled,
you might not be able to work, resulting in no or less income. The living expenses
increase, often for medical care. This is where disability insurance comes handy.
This insurance can replace for your lost job. Now, some employers do offer a certain type
of coverage under this insurance. There are two types of disability insurance: long term
disability policies and long-term disability policies. Depending on the nature of your
priority you can choose accordingly.Short Term Disability Insurance has benefits for maximum
two years whereas Long Term Disability Insurance has benefits that can last for rest of your
life.
Is Disability Insurance a must?
Well, the answer is a pure yes!
Disability can impact your life in more ways than you think it can. If you are suffering from
some illness or alignment, then it can impact not only on your health but also your finances.
Not only it can give financial trauma but can also disturb your lifestyle and family’s financial
security. With so many medical bills for the treatment, hospital bills and health insurance excesses,
you might not be able to work for a long period of time. Thus, your financial stability might suffer a setback.
Fortunately, with disability insurance you can alleviate your financial strain, should something like this does occur.
Income Protection Insurance
If you are sick or wounded and cannot perform your duties within your own occupation, Income protection
insurance offers a monthly payment in this event. An insurer cannot cancel the policy because this policy
is guaranteed renewable. It includes extra benefits, giving you all the leverage for what you are paying.
But, one should always be careful before considering a basic policy. It’s not about few more shells but
about the benefits it provides.
Secure Life Insurance offering Drug & Dental Insurance and Critical Insurance also.
Determine your Needs:
Once you decided on the company for your life insurance policy, you should be careful in
understanding the benefit from the policy. If you choose a plan whose amount is smaller
than what you actually need, can put your family’s financial future in jeopardy. Your
insurance agent will carry out an analysis of the insurance companies and of your needs to
help you choose the plan of your benefits.
Answer Questions Truthfully:
An insurance agent is responsible for asking you about the risk factors that will determine
your category involved in taking a particular policy. These questions involve your family’s
medical history and your health, in addition to your lifestyle habits or that might affect
your health in the future. For example smoking and some dangerous hobby changes your risk
category.
Answer the question with all honesty; if you are not true, this could negatively affect your family’s
right to collect on your benefits if the insurance company finds that you lied on your application.
Once you’ve been accepted and acknowledged the life insurance policy, tell your family members about
the insurance policy. Want to know more? Contact us and meet our insurance agent in Brampton and
Malton now!
It is a way of protecting your family’s financial structure. It provides a hefty payment in
the event of your death or on the diagnosis of a terminal illness where death is likely to
occur within 12 months.
Edge Benefits and IA excellence