Disability Insurance Plans

There are various types of disability insurances available in the market at the present time so, it is becoming very much confusing to decide that which company has the best plans related to your demands. Even the so called reviews or rating system cannot be solely trusted for buying disability insurance because it could also might be a marketing strategy only. To decide the best disability insurance plans for you first become aware about your needs and wants them you can go on for digging out the details about any company or its policies.

The most popular and basic disability insurance plans at the present time are – long term disability insurance & short term disability insurance.

• Short term disability insurance – when you cannot work for a short period usually up to a year the insurance gives you monthly benefits. Although this type of insurance is generally offered by the employer as group disability insurance itself but in case if no such insurance is probably the employer than you can go for individual disability insurance. Plans under short term disability insurance are –
• Group disability insurance plan- it is provided by the employer to every employee regardless of the work they do, lifestyle or health status they are in. These benefits are given by the employer so as soon as you leave the job you won’t be entitled to enjoy these services further. If you are in a lower risk of potential disability then group disability would be best option for you. However, if you find yourself in higher risk of getting disability then you can also take individual disability insurance plan for just to add an another protective layer to get even more security.
• Individual disability insurance plan- going with this plan is also a better option because the plans are designed to fulfill the individual needs and benefits provided are also even much more in comparison with group disability insurance plan.
• Long term disability insurance plan- There is two main types of long-term disability insurance plans: self employed disability insurance plans and any-occupation disability insurance plans.
• Any occupation disability insurance – this plan is usually cheaper comparing to other plans .you are entitled to receive benefits if you cannot work any job you’re suited for because of illness or injury. But the thing to focus on is that it is difficult to prove that you cannot work in any occupation.
• Self employed disability insurance – this policy is little expensive. This is best policy for self employed individuals as this will be a good income substitute for them. It will pay out benefits even if you start working as an employee but the condition is that your policy status should remain active.

Each and every plan of disability insurances is designed in such a way that they can fulfill the specific needs of an individual. With the guarantee of more protection the price of the insurance will also go up but for that you need to enroll in a good trusted company through a trusted agent.