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Disability Insurance Policies

Disability Insurance Policies

Liljenberg Insurance

A disability often means that someone cannot work and needs medical care. Disabilities may be temporary or they may be permanent.

Fortunately, it is possible to purchase disability insurance to help make up any lost income. This type of insurance is designed to help provide the policy holder with protection against fiscal loss in case of disabling injury. The insurance provides the person holding the policy with financial compensation if they are unable to hold a job due to a disabling injury. A person may have this type of insurance as a workplace benefit.

This kind of insurance is designed for those who are in the workforce and rely on their personal income from work to pay their bills. It is also useful for those who must provide an income for their family members or other loved ones. The policy is often based on how much the person earns each year as well as their outstanding fiscal commitments.

Coverage may provide financial compensation for a totally disabling injury or a partially disabling injury. A totally disabling injury is one in which the injured party is unable to work at all or unable to work at their current profession. For example, a surgeon who is accidentally blinded may be unable to work as a doctor again and might find his work opportunities highly limited. This type of insurance would provide the surgeon with an income during the course of his lifetime.

An injury may also be partially disabling. Someone who is a pilot may suffer the loss of eyesight in one of their eyes. This can lead to a lack of depth perception and make it impossible for the pilot to continue piloting planes. The pilot may still be able to take other jobs where his loss is not an issue. In that case, the insurance would provide him with fiscal support until another job was found.