Disability income insurance, also known as income protection insurance, is a protective cover that provides a replacement of regular income when you are unable to work as a result of an illness or injury. Generally, people insure their assets like care, house or other property but your regular income capability is a much more precious asset than your car or house. It covers 75% of your salary and considered as an appropriate amount to fulfil basic requirements such as food, shelter, utilities, bills, and debts while you are still getting your strength back.
Under a disability income insurance agreement, a total disability commonly contains the following features, while they may differ between providers:
An incident that happened as a consequence of a serious disease or injury;
Failure of capability to work within a usual capability caused by the disease or injury;
Cut in income as an outcome of lack of ability to work or only capable to work with reduced hours because of the disease or injury.
Disability income cover will support you in case you lose your ability to work and earn due to any serious disease or injury. It will be around a bit less than your salary that you can fulfil the fundamental requirements of yours and your dependents. As skill and ability to work is a more superior asset of any human, insurance of disability will make yours and your family’s future secure.