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Surviving with a Disability

The house runs on the income of its earning members. In case of disability of any member the income could stop. This would put you in a very difficult situation. For such cases insurance is available that provides a disability income for the period of injury. If the disability is long term you might need financing all your life. The payment by the policy should be as much as the wage you were earning. This will give you the confidence that even if things go wrong you have money for yourself and your family. This policy is very important because disability could render you completely helpless.

In many cases such insurance may be provided by your employer. This is called a group policy. In other cases you might need to buy it yourself. This is called a private policy. While group policies usually apply for your period of employment, private policies apply for a long time and give higher income. However private policies are also more expensive.

It is very important for those self employed to get a policy because a group policy is not being offered. Further if you have many dependants the policy is a must to provide income. In case your income is high you may want to avail this policy.

The policy should pay as much as you would normally earn. The policy will give you the money in case you are unable to engage yourself in an occupation. This should give your family the safety it deserves.

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