finance
Know about the insurance benefits for disabled
Insurance is a financial cushion that every individual must explore to secure the financial future of themselves and their dependents. In some cases, people living with disabilities face unique challenges and uncertainties. They may benefit even more from insurance, especially the ones that have tailored options for disability. These insurance plans help eliminate financial burdens and provide essential support. Here are some of the benefits that one should be aware of: What is considered a disability? Since disability can affect one’s earning capability, disability insurance is more or less a partial replacement for one’s income that can cover daily necessary expenses. In insurance, a disability can be any impairment from birth or caused by injury or illness, encompassing both mental and physical. To qualify for life insurance, however, the condition should not directly affect one’s life expectancy. Similarly, anxiety or PTSD can also affect one’s insurance rate. Insurance benefits for disabled Government-sponsored insurance Individuals with disabilities qualify for two types of government insurance. First is the Social Security Disability Insurance (SSDI), which covers working individuals who are no longer able to do so because of their disability and provides them with monthly payments. Second is Supplemental Security Income (SSI), which works as per individual needs.
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