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