Indian Disability Insurance, India Disability Insurance, Disability Insurance India

Indian disability insurance gives cash coverage so that your financial future can be more secure despite any disability. Disability in any form has a detrimental effect since it can come in the way of you being able to work, thereby rendering you incapable of earning. Undoubtedly life after disability is difficult but if you have insurance, the immediate expenses can be met. Further, financial stability is necessary because there are bills to pay, children’s education to take care of and medication expenses to cope with.

Indian disability insurance gives cash coverage so that your financial future can be more secure despite any disability. Disability in any form has a detrimental effect since it can come in the way of you being able to work, thereby rendering you incapable of earning. Undoubtedly life after disability is difficult but if you have insurance, the immediate expenses can be met. Further, financial stability is necessary because there are bills to pay, children’s education to take care of and medication expenses to cope with. Indian disability insurance provides offers an option of short term coverage for disability, which usually pays 70%-80% of the policyholder’s income. Long term coverage provides 40%-60% coverage. While short-term coverage can last for a few months, long-term policies give an extended replacement of income, ranging from six months to the policyholder’s life time.

Types of India Disability Insurance

• Non cancelable policy: This policy can be renewed without an increase in the premium. The policy cannot, however, be cancelled unless the premiums are not paid on time.
• Guaranteed renewable policy: The premium can be increased by the insurance company above the amount mentioned in the policy but only if a specific group of people are affected by it.
• Conditional renewable policy: The power to increase the premium or add additional clauses to the policy lies solely with the insurance company.

Choosing the Best India Disability Insurance Policy

When you choose an India disability insurance policy, you are putting your future finances in the hands of the insurance company. It is, therefore, important that you choose the policy with utmost caution. Always opt for a financially sound, respectable and reliable company.

Most employers get their employees insured but it is important for you to know the amount of coverage that you will receive in case of an accident. If that amount is not enough, you should get an insurance policy that fills the gap between your current coverage and the amount that you would need to sustain the same standard of living.

Declare whatever cover you have from your employer or else any latent fact may go against you and the insurance company might even reject your claim.