What is Private Disability Insurance?
Private disability insurance is an insurance policy that pays a portion of your income in case a temporary or permanent disability occurs, preventing you from working. Private disability insurance is a policy that can be provided by an employer as an employee benefit, or can be purchased by an individual. Private quotes are available in a short-term or long-term basis.

What is Long-Term Disability Insurance?
Long-term private disability insurance pays a percentage of your salary if you are unable to work long-term due to illness, injury, or pregnancy. By obtaining a long-term quote, you will be able to receive what is expected to last for one year or longer, unlike with short-term quotes that typically provide benefits for a short period of time (six months to one year). Quotes vary on the length of coverage, but usually long-term disability insurance quotes provide benefits until age 65 for physical disabilities or as long as the disability continues.

What is Occupational Disability Insurance?
Some people underestimate the risk of occupational disability that may be caused by illness or accident and can lead to major financial problems. Private occupational insurance covers you if you are no longer able to work in your current career for health reasons, with occupational incapacity level of 50%. Private occupational quotes covers income protection and replacement for both short-term and long-term occupational incapacity.

Disability Insurance is Sometimes Referred to as Income Replacement Insurance
Income replacement insurance or income replacement cover quotes provide you with a tax-free monthly income replacement until your selected retirement age (usually between 50 and 70) if you are unable to work due to an illness or disability. Income replacement quotes are based on your occupation, age, health, estimated retirement age, and income replacement ratio.


Tiffany Locke · 2018-02-23 at 7:29 pm

Thanks for explaining the different options, such as how private disability insurance pays a portion of your income in case you get a temporary or permanent disability that prevents you from working. This would be important for people who work in high-risk situations and are worried about problems. When choosing a disability insurance, it would probably be a good idea to consider your situation and then meet with a representative of several different options so that you can discuss what they offer as well as your circumstances in order to determine if it’s a good idea for you.

    Joseph Doratan · 2018-03-04 at 9:29 pm

    Indeed disability insurance is very important. There’s a reason why disability insurance can be relatively expensive – because the percentage of people claiming disability is actually high. The quality of life of the family can easily deteriorate should the breadwinner becomes disabled and has no such valuable income replacement tool!

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