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