Lena Yulo, Negosentro | Do you understand how disability insurance can help you? Many people do — or at least, they think they do. As with other types of insurance, you’ll encounter plenty of insurance terminology to know. Unfortunately, some people don’t take advantage of all the resources available to them and leave money on the table. You can keep this problem from happening to you by doing some due diligence. Reading this brief is a good start, but keep researching. Review your policy carefully, and don’t be afraid to speak up if you have any concerns.
Disability insurance works by offering coverage for a disabling illness or accident. As with life insurance, you’ll pay premiums to keep your policy intact. If you have a disability insurance policy available through your place of employment, read through it carefully to understand what is and isn’t covered. If you’re thinking of purchasing a new policy, either through your workplace or independently, know that people normally have two choices: short-term disability insurance and long-term disability insurance.
Short-term policies typically provide a portion of your salary each month for up to a year to help you cover some costs. Long-term policies are much more comprehensive and can pay out a greater portion of your salary each month to cover all essential living expenses.
You can learn more about disability insurance by exploring the resources available on HealthIQ.com as you continue your research. Expand your knowledge on the ways a disability insurance policy can help you with a short quiz from Health IQ.
