From Wikipedia, the free
encyclopedia
Accident,
sickness and unemployment insurance
Workers' compensation, or
employers' liability insurance, is compulsory in some countries
·
Disability
insurance policies provide financial support in the
event of the policyholder becoming unable to work because of disabling illness
or injury. It provides monthly support to help pay such obligations as mortgage loans and credit cards.
Short-term and long-term disability policies are available to individuals, but
considering the expense, long-term policies are generally obtained only by
those with at least six-figure incomes, such as doctors, lawyers, etc.
Short-term disability insurance covers a person for a period typically up to
six months, paying a stipend each month to cover medical bills and other
necessities.
·
Long-term disability insurance covers an
individual's expenses for the long term, up until such time as they are
considered permanently disabled and thereafter. Insurance companies will often
try to encourage the person back into employment in preference to and before
declaring them unable to work at all and therefore totally disabled.
·
Disability overhead insurance allows business owners to
cover the overhead expenses of their business while they are unable to work.
·
Total permanent disability insurance provides benefits when a
person is permanently disabled and can no longer work in their profession,
often taken as an adjunct to life insurance.
Workers' compensation insurance replaces all or part of a worker's wages lost and accompanying medical
expenses incurred because of a job-related injury.
No comments:
Post a Comment