Understanding Disability Insurance
Disability insurance is a crucial safety net designed to protect your income when you're unable to work due to injury or illness. Unlike other forms of insurance, it directly addresses the financial stability and security of you and your loved ones during difficult times.
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What is Disability Insurance?
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Disability insurance provides financial support if you cannot earn a living due to a medical condition. It ensures that you can maintain your standard of living, even in challenging circumstances.
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Types of Disability Insurance:
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Short-Term Disability Insurance: Offers coverage for a limited period, typically up to six months, ideal for temporary injuries.
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Long-Term Disability Insurance: Covers extended periods, often until retirement age, useful for severe, long-lasting disabilities.
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Coverage Details:
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A policy typically covers a percentage of your monthly income, ensuring you can manage essential expenses like mortgage, utilities, and groceries.
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