The short-term as well as long-term disability insurance contribute a lot in the productivity of employees. Companies or employers are also at great advantage when they provide this kind of insurance to their employees. This can help increase the morale of their employees and, likewise, their production and profit.
Disability Income Protection Insurance replaces a portion of your income if you become unable to work because of a covered illness or injury. It encompasses paid sick leave, short-term disability benefits, and long-term disability benefits.
Disability Insurance can help offset the costs associate with the following:
- Mortgage or Rent Payments
- Utility Bills and Other Necessities
- Medical Costs not covered under your health insurance plan
- Travel and Lodging Expenses
- Benefits are usually payed to the insured
You may chose the amount of your disability benefit to meet your needs subject to income and in most cases this insurance is portable, which means if you change jobs or retire you can take it with you.