Disability insurance services are also known as disability income insurance, welfare benefits or social security disability insurance. It provides assistance and support to those who need it most, especially during economic times when income is hard to come by. People must take into account the reality that even though they have been disabled for a long time or may be coming close to retirement, there is no assurance when the physical condition will again take them off the disability list and may turn out to be an opportunity rather than a worry. Thus, disability insurance helps to maintain a basic level of security for the future, as well as for ones present disability insurance services.
There are many types of disability insurance services available to suit any individual’s need and budget. They cover medical and long-term care expenses, as well as disability income and work due to injury or illness. Some of the more common types of disability insurance services include long-term medical care insurance, disability income insurance, and Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI). Long-term medical care insurance, like medical insurance, is meant to provide coverage for a pre-existing medical condition for a specific period of time. This type of service usually requires a monthly premium payment. However, there are a variety of policies available today that provide coverage even if a patient is not yet eligible for long-term medical care, or if he or she only needs disability income insurance during a specified period of time, like a vacation.
Short-term disability insurance on the other hand, may be required for a specified period of time in order to provide income when a person is unable to work due to injury or illness. A short-term policy is useful if the disability insurance is needed for only a short period of time. For example, if a person is disabled and cannot work for two months because of a job injury, the person may qualify for a short-term policy that would provide him or her with coverage until the specified time period has expired. Similarly, a short-term disability insurance policy could be implemented when a person is laid-off from his job because of his sickness.
Basically, short-term disability insurance policies provide coverage only for a specified amount of time, which differs from provider to provider. It is also important to keep in mind that disability insurance premiums are likely to be more expensive than health insurance premiums. If you are interested in getting long-term disability insurance, you would have to pay much higher premiums than those for short-term coverage. Also, long-term disability insurance offers more comprehensive benefits than short-term policies. For instance, if you were looking forward to getting long-term disability insurance, you should inquire about the additional benefits provided by your prospective insurance provider.
Medical coverage and disability income are two of the most basic disability insurance services. These are meant to provide steady income during periods when a person is not able to work because of injury or illness. In general, disability income covers the cost of caring for an inpatient in a rehabilitation center, providing medical care and paying the cost of home care. Medical coverage, on the other hand, protects a policy holder’s income and protects the insured’s dependents in the event of his or her disability or death. The medical payments are generally made on a monthly basis, which could be increased or decreased as per your income level.
Basically, there are three different types of disability insurance services available. They are medical, disability income. While all these cover a common aspect, you should be clear about which service is meant for your benefit. For example, a disability insurance plan for hospitalization should not be confused with rehabilitation services. The medical disability insurance is intended to provide cover for specific illnesses and injuries, while disability income is meant to provide you with a regular monthly income as long as you remain qualified for it. So make sure that you know exactly what you are buying and what it is meant to secure.