Wednesday, July 02, 2008

Disability Insurance Secured Future Of Wheelchairs Users | Global Finance

June 22, 2008


If you are unable to work, a disability insurance policy can be a lifesaver. despite illness or accident, household bills still need to be paid. For many people who are on motorized wheelchairs, protection against disability can be a lifesaver if you can't get to work and earn an income. In fact there is a higher probability of a person requiring some form of protection against disability before they retire than the likelihood of dying.

It is an unfortunate fact that most people think they have a greater chance of dying than being laid off work through disability so life insurance policies are more popular. Trying to convince a worker of forty they will probably need 90 days off through injury before they retire is hard work. Of course, when someone is seeking disability insurance cover, it is imperative to find the best rates and plans available.
Now a day people are very much aware that how to fight with depression so if sometimes they need to use power wheelchairs they prefer to use manual wheelchair because manual wheelchair provides lot of facilities regarding mobility.

Some of the factors required to assess the premium include the age and health of the applicant but the largest part to calculate is how much income they will need whilst they are incapacitated. To help reduce the possible financial impact of taking out of the premiums it is possible to delay when the first payments are made; the provider would be less at risk if was only a short term incapacity. The other is opting for a shorter period of cover; this can be a risky move if the period of incapacity is longer than the period arranged for payment.

Almost every plans are based on a percentage of salary so even with this protection a certain shortfall will exist. The two main types are short term and total disability insurance; the short term will only cover a set number of months but may have improved benefits. Total disability cover is in force for a longer period albeit at a reduced rate but the onus is on the claimant to prove they can no longer perform the work they carried out before. While on manual wheelchair have more chances to get into depression. So there are many types of wheelchairs like quickie wheelchair for disabled people so that they could enjoy more and not get into depression.beach wheelchair is useful for that people who loves to go beech.

Whatever would be the circumstances, when a person is approved for these payments they may receive them weekly or every calendar month. Other key points to consider when looking into health policies are if there are restrictions on:

  • Attitude towards pre-existing conditions
  • Will the benefit be tax free?
  • Time frames for benefits
  • Details of employment

You cannot expect the same level of income cover in your disability insurance plan from each company so you need to check this carefully first. This variation is quite large with some only giving a measly forty percent of the salary whilst better plans will give up to seventy percent. It is the number one factor that will define what your income will be in case you become disabled.

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