Types …show more content…
Check the insurance offer document for the duration of short term.
Long Term disability Insurance: Long Term disability Insurance type will cover disability for more extended time duration; mostly it is up to the age of 65 or until death.
These above types are further sub-divided into below categories:
Any Occupation: Under this policy, Insured is measured as disabled if and only when he or she is unable to execute duties relating to any occupation.
Modified Any Occupation: Under this policy, Insured is measured as disabled only when he or she is not able to perform duties related to any occupation for which you are trained, educated or possess work experience.
Loss of Income: If insured is determined as disabled either partial or total, Under such circumstances policy holder get paid lump sum amount or equivalent monthly payment by the insurer in the event of loss of income occurred due to illness or disability.
Some of the Disability Insurance Exclusions are:
• Two-year is the maximum payment duration for mental disabled or nervous disorder.
• One-year maximum duration cover by insurer for drug or alcohol abuse