What Are the Benefits and Features of Disability Income Insurance - Dynamic Lifestyle Solutions

Disability income insurance is a coverage that provides financial benefits to the policyholder in the event of any accident or illness resulting in a disability that prevents the insured person from abiding their employment.  By having this insurance policy, the insured person will get a decided amount of money to maintain the standard of living and bearing their monthly regular expenses.                

However, if you’re someone new to this concept or planning to get this very first time, you must read this post carefully to have a complete idea about the types of insurance & how they benefit you?  In such insurances, disability is defined as the mental or physical illness or injury.  These insurances allow you to have income protection even when you’re not working.                                     

What are the common features and benefits of disability income insurance?  

There are many life insurance companies providing these insurance plans with various benefits.  If you are meeting any particular broker or agency, make sure that consist these benefits. 

You must have an option of choosing the flexible deductible periods according to you.  

The options range from 1 to 24 months (a year). 

You will also have an option to choose the coverage period according to y our needs. It could range from 6 months to 10 years or to age 65 or 70. 

The monthly benefit amount will be decided based on your current income and the class of occupation.  It could range from $500 to $16,000 per month. 

Not all but some disability income insurance companies also offer this insurance to the spouses who stay at home.  It gives a maximum monthly benefit of $750 that could vary from company to company.

Additional Riders attached to the insurance 

In order to have an adequate protection, you can add additional riders to your insurance.  It’s a customization option that works totally for your welfare.

If your income justifies, you have an option to purchase the additional insurance on specified dates regardless of your health. 

You can have a regular occupation definition of disability where you continue availing benefits even if you are doing a different part time job after your current line of work. 

Note: Above mentioned benefits and features allied with the Disability income insurance can vary from the company to company provide such services however, few of them are very common so whenever you move on to get such insurances bear these points in mind. For more info, please get in touch with Dynamic Lifestyle Solutions.

 Author Bio:

Hi, I am Kim Rachelle; my passion is writing articles based on health insurance, life health insurance and information technology. I write on numerous topics such as real estates, agriculture and many more to bring user attention appreciation. My main purpose is to provide easy to understand and relevant contents for the readers all across the globe. I literally appreciate readers leave comments on my posts.

Sponsor Ads

• Ad Space Available - Rent it Now!

Report this Page

Created on Dec 31st 1969 18:00. Viewed 0 times.

Share on APSense

Comments