Accident And Disability Insurance Rates  

      If all of a sudden a disability strikes you, you can be sure that your life will become miserable. You will feel that life is just not worth living. This feeling is experienced by thousands of people and it is something that is brought on by their inability to earn a basic livelihood.

       At a point like this in your life, prior planning can be the only saving grace. That is why it is important to have an accident and disability insurance. Especially because future is so uncertain and one never knows when this insurance will come handy.

      Disability insurance policies give your protection for future. You have to pay monthly premiums during the policy duration to benefit from it. In other words, disability insurance will be there to support you financially if you are disabled because of an accident or you fall seriously ill and cannot earn a living.

       However, to get an accident and disability insurance you have to pay monthly, quarterly or yearly premiums to the insurance companying giving you the insurance. Accident and disability insurance rates change from person to person and these rates are decided based on the person’s income, health history, age, gender and occupation.

     In the US, there primarily two types of accident and disability insurance policies. One is offered by the state and other is private. Accident and disability insurance rates for both these policies are different along with the plan types and conditions.

      Rates for insurance policies offered by the state are determined by the government, and premium payments are actually taxes to the disability fund which are deducted directly from your salary. If you meet with an accident or fall ill and cannot work, you will receive support financial through social security disability income.

      There is no dearth of private accident and disability insurance policies. The rate of the premium will depend whether you take a short-term or long-term insurance policy. In addition, many other criteria are taken into consideration for the premiums. However, one thing is for sure, the higher your rate of premium, the more benefits you will be entitled to.

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     Most financial planners will advice you to have disability insurance as it is an important part of financial prudence. In fact, it has been seen that many people actually end up needing disability insurance more than life insurance before they reach the age of 65.More...




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