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What type of insurance replaces income if you have a long term illness or injury and cannot work?
Wiki User
∙ 14y ago
disability
Wiki User
∙ 14y ago
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What type of insurance replaces income if you have a long-term illness or injury and cannot work?
-disability
What type of insurance replaces income if you have a lng-term illness or injury and cannot work?
Disability Insurance is what is referred to as income replacement coverage.
What type of insurance replaces income if you a long illness or injury and cannot work?
You would need a whole life or an universal life policy with an income rider, and possibly a long term care insurance policy which would fall under a health insurance policy.
How can you insure yourself in case of disability?
Yes - that is the purpose of disability insurance. It replaces a portion of your income if you become unable to work because of a covered accident or illness. Contact an insurance agent to get a policy. Coverage needs to begin prior to becoming disabled.
How do you rate a Business Interruption Insurance Proposal?
Business Interruption Insurance replaces lost income after a loss. It is best to apply an amount of coverage that is equal to your actual income. The period of time your income can be replaced may be as little as only 3 months, and as much as 18 months depending on the insurance company.
What websites can explain to me in detail what income insurance is?
Income insurance is basically Disability Insurance, you pay a premium each month to a company, who will then in turn pay you a percentage of your income if you are unable to work due to illness or injury. http://ezinearticles.com/?What-Is-Income-Insurance?&id=6382121 http://www.ehow.com/about_6171413_income-protection-insurance_.html
How does disablity insurance pay in California?
California SDI replaces 55% of your income for 52 weeks, up to a maximum of $949 per week in 2009.
What percentage salary does short term disability insurance pay California?
California replaces 55% of your income, up to a max of $949 per week in 2009.
What is short term disability Insurance?
Short term disability replaces your income if you become injured or sick and can't work. The benefit period is limited to 3, 6, 12, or 24 months. The policy stops paying benefits if your disability lasts longer than the benefit period.
What is the Difference between disability insurance and disability income insurance?
The difference between SSI benefits and disability benefits has to do with the circumstances under which each is given. SSI (Supplemental Security Income) is provided only to those 65 years and over while disability maybe be provided at any age.
What is a real life?
Real Life Cover is a type of insurance policy. It offers multiple types of cover under the one policy. Life insurance, income (in case of lost work from illness), critical illness (like a heart attack), and unemployment.
Why do you need disability insurance?
You rely on your income to pay your bills: mortgage, rent, car payment, utilities, groceries, etc. You need your income to save money for retirement and future emergency situations. If you get sick or hurt and become unable to work all your bills will continue to pour in, but there will be no income to offset these expenses. Disability insurance replaces a portion of your income while you are unable to work.
