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What is Disability Insurance?

What is Disability Insurance? Read on to learn more.

Any disability that occurs either from illness or injury that results in your becoming unable to work and earn can be covered by insurance. However, lots of people don’t know what disability insurance is.

Many companies provide short and long term insurance benefits to their employees. A policy that helps you immediately after an incident is a short term policy. However, a long-term disability insurance policy will provide you financial assistance for disabilities that last for many, many years. Apart from this, you can receive additional coverage with more benefits if you pay a little extra on the policy.

Why Does a Person Need Disability Insurance?

The future is unseen. Nobody knows what their future holds. Accidents, illnesses, or injuries often come unexpectedly. That is why it is essential to have disability insurance which will help you pay your bills in case you get too sick or injured to work and collect a monthly salary.

Disability insurance is also referred to as income protection insurance or disability income insurance. It provides you and your family with financial security. This policy is an agreement that you make with your insurance company. The payments that you make monthly or yearly to the insurance company allow you to get benefits that will help you fulfill your obligations if you are unable to work. These type of insurance policies vary from company to company, as does the benefit period, which could be a number of months, a certain number of years, or up to a certain age.

It may be surprising to learn what disabilities insurance policies cover. From back pain to arthritis, diabetes to cancer, and depression, along with heart diseases, all are included in the common causes of long term disabilities! It is a fact that long term disabilities stem more from medical illnesses rather than physical injuries.

There are a lot of factors that the insurance company will want to look into when you apply for disability insurance.

Gender and Age

Your chances of becoming disabled are higher if you are older. This means the cost of disability insurance will increase as well. On the other hand, if you are a young male, then it’s a wise investment to go for this insurance. Women tend to pay higher premiums than males because they file more claims for more extended periods.


If you have a history of chronic family illnesses, whether or not you use drugs or alcohol, your weight and height, and other medical tests including blood tests and urine tests are also all crucial factors.


When assessing the risk of disability, your job or profession will determine how open or susceptible you are to injury. Some professors have more risk of injuries and illnesses than others. Construction workers, the police force, or firefighters are more likely to become hurt physically than office workers.

Some other considerations include your annual income and where you live.

Final Thoughts on Disability Insurance

It is always best to prepare for a rainy day. However, there are many benefits of disability insurance. It will provide you with a source of income until you recover from your injuries or illnesses.

Written By Riley Brown

Riley is a finance, lifestyle, and entertainment writer living in San Diego. He received his bachelor's degree in Journalism and Multimedia from the University of Oregon. His work has been featured in many finance and lifestyle publications throughout the US. When he is not writing, Riley enjoys reading and hanging out at the beach with his dog, Miles.

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