| There are Short Term Disability Insurance and Long | | | | Life Insurance, as widely known, helps the survivors |
| Term Disability Insurance coverage. The Short Term | | | | of a family with the financial means to cope with the |
| Disability Insurance, as the name indicates, provides | | | | death of one of its members. The beneficiaries |
| substitute income for short durations. When you | | | | nominated for this purpose receive the insurance |
| undergo a major surgery or prolonged medical | | | | amount upon the death of the insured person. Life |
| treatment for any ailment, you suffer loss of | | | | insurance provides a fixed sum of money to the |
| earnings as you are unfit to work. By opting for this | | | | beneficiaries upon death of the insured. It is intended |
| insurance, you can supplement the income gap for | | | | to replace the deceased's loss of current and some |
| that period. Till you become alright and return to | | | | future income, and may also be useful in estate |
| work, you can stop worrying for money needed for | | | | planning. |
| every day expenses. | | | | Beneficiaries will receive payments whether the |
| The Long Term Disability Insurance similarly offers | | | | insured dies of natural or accidental causes. AD&D |
| substitute income for long period maybe even up to | | | | insurance provides a lump sum payment if death or |
| a person's retirement age. This insurance is | | | | dismemberment is the direct result of an accident If |
| understandably meant for more prolonged periods of | | | | the insured has both life and AD&D insurance and |
| incapacity to work. Critical injuries as a result of road | | | | dies as the result of an accident, both covers are |
| accident could mean several months of inability to | | | | paid to designated beneficiaries. Life insurance may |
| resume work. The long term insurance is more | | | | also play a role in estate planning, or in choosing |
| focused in eliminating your concerns about how to | | | | retirement income options, depending on the health |
| pay your bills over many months or even years. This | | | | of the employee and his dependents. Life insurance |
| insurance can also help fill the void before a person | | | | should be viewed in the overall context of the |
| can qualify for social security disability. | | | | individual's total financial plans. |
| Yet another type of insurance is Accidental Death | | | | As regards beneficiaries, you can name more than |
| and Dismemberment Insurance (AD&D) which | | | | one person as your beneficiary. However, you must |
| additional benefits if death has occurred due to an | | | | designate the same beneficiaries for Basic Life, |
| accident or if the insured has suffered accidental loss | | | | Optional Life and AD&D. The Life Insurance premium |
| of a limb or eye. Accidental death and | | | | is determined by your age, whether you are a |
| dismemberment insurance pays you or your | | | | smoker, your gender, the amount of cover you |
| beneficiary when you are injured or die in an accident. | | | | require and the number of years it is required. There |
| The plan pays varying amounts depending on the | | | | is a guarantee that the amount you pay will not |
| extent of injury. For example, the full benefit is paid if | | | | increase throughout the tenure for which you are |
| you die in an accident. If you lose a hand or a foot, | | | | covered unless you choose the Inflation Option. |
| 50% of the full benefit is paid. AD&D insurance also | | | | Peter is a Copywriter of hr management california He |
| provides a lump sum payment if death or permanent | | | | written many articles in various topics. |
| disability is the direct result of an accident. | | | | |