Health insurance policies cover the cost of medical
treatments. Dental insurance, like medical insurance, protects policyholders
for dental costs.
Income protection insurance
Disability insurance policies provide financial
support in the event of the policyholder becoming unable to work because of
disabling illness or injury. It provides monthly support to help pay such
obligations as mortgage loans and credit cards. Short-term and long-term
disability policies are available to individuals, but considering the expense,
long-term policies are generally obtained only by those with at least
six-figure incomes, such as doctors, lawyers, etc.
Short-term disability
insurance covers a person for a period typically up to six months, paying a
stipend each month to cover medical bills and other necessities.
Long-term disability insurance covers an individual's
expenses for the long term, up until such time as they are considered
permanently disabled and thereafter Insurance companies will often try to
encourage the person back into employment in preference to and before declaring
them unable to work at all and therefore totally disabled.
Disability overhead insurance allows business owners
to cover the overhead expenses of their business while they are unable to work.
Total permanent disability insurance provides benefits
when a person is permanently disabled and can no longer work in their
profession, often taken as an adjunct to life insurance.
Workers' compensation insurance replaces all or part
of a worker's wages lost and accompanying medical expenses incurred because of
a job-related injury.
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