Therefore while buying any insurance policy take
Therefore while buying any insurance policy take written explanation from the insurance company where ever necessary and keep your file up to date.
Some times long-term disability insurance is provided by the employers. It is a part of terms and conditions of working in these companies. But you can purchase long term insurance on your own as well. In that case, it is tax-free.
Instead of life insurance it is better to buy disability insurance. The coverage provided by the later policy is much more than life insurance. Accidents do happen and in case you are disabled and not in a position to do any productive work, disability insurance is your only protection.
You can get a number of quotes online from your broker and compare the benefits. As for the standing of the insurance company, your broker’s advice might carry weight, but your independent verification is a must. Because you will get the benefits, if the company exists, or the financial standing of the company is such that it would settle the claims speedily.
http://www.about-disability.com/ & Disability website provides detailed information on disability, mental health disability, medical disability and more..
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