Prestizia Insurance Blog
Anything can happen. It is hard to predict what will happen in life. We strive and work for what we want, but life can throw us a curveball anytime and derail those plans. We want to protect our home, cars, and family. This is the main reason we purchase a home and car insurance policy. However, what will happen if we lose the ability to work?
It may be due to an illness or accident, but losing the ability to work will put a strain into our financial capability. How will you cope up with the bills? How do you provide for yourself and the family? How do you seek medical procedures?
Short Term and Long Term Disability Insurance
This is where short term and long term disability insurance can come in. This insurance policy will replace your salaries and wages in the event you can not work due to an illness or injury. This policy can be divided into 2 categories, according to the coverage period and amount paid out.
Short Term Disability Insurance
This coverage is for a limited amount of time. This is determined by the limits in your policy, which is typically around 6 months to 1 year. You will begin to receive your benefits after a short waiting time of around 2 weeks. The following are the typical conditions covered.
Long Term Disability Insurance
This coverage offers protection from illnesses and injuries that will prevent you from working. Depending on your policy, this can last for several years, until you recover, age 65, or sometimes for life. The waiting time is usually longer at around 90 days. These are the common types of conditions covered by this type of policy.
It is important to note that childbirth is not included with this type of insurance.
Choosing between short term and long term plans can be difficult. Since we do not know what will happen to us, we are confused on what kind of policy should we get. In general, long term policies will offer more protection. But short term policies can be more affordable, or possibly a combination of both.
It is important to know what is best for you. You can learn this by talking to a specialist and determine what is most important for you. Prestizia Insurance Group, has its clients as their first priority with affordable rates and clever policies. To learn more about how we can help you please contact our agency at (855) 436-6353 or Click Here to request a free quote.