Disability Insurance

There are a lot of people today who are working high-risk jobs. These tasks put life and limb in danger, and can lead to serious injuries that may put an individual out of work for an extended period of time. The companies who hire these individuals usually provide a service called disability insurance for their employees to have an income coming in when they are injured and unable to work.

Disability insurance comes in two types of policies. One type of policy is called short-term disability, and this policy has a maximum coverage of up to two years, and has a waiting period of up to fourteen days. The other type of disability insurance is called long-term disability. This policy’s maximum benefit range can be from a few short years or up through the rest of the insured person’s life.

Another great feature of disability insurance is that it has two different protection features. One protection feature is called noncancelable, and this means that the insurance company can’t cancel the policy for any reason, unless the premiums aren’t being paid. The other feature is called guaranteed renewable, and this means that the person insured has the rights to renew the policy without worrying about the company canceling the policy. This does however, give the company the right to raise your premiums up some.

Tom Jensen was a construction worker, working for a company in Dallas. Tom and his company did a lot of building around the Dallas area, and often worked on jobs that were dangerous, with heavy equipment or jobs that required climbing. While Tom was on the job site for a project just out side of Dallas, Tom fell from a ladder and broke his arm. After being rushed to the hospital in Dallas, Tom was fitted with a cast and restrictions were placed on him not allowing him to work. Tom’s company provided disability insurance for him, allowing him to draw a regular income while unable to work.

This type of insurance coverage is very beneficial and great to have in case of accidents. Policyholders don’t have to fret and worry about losing an income and not being able to pay bills if something happens and they are unable to work. This truly eases the insured individual’s mind, providing them with an environment inductive for healing and provides them with a peace of mind.

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