Accident, sickness and unemployment insurance
Workers' compensation, or employers' liability insurance, is compulsory in some countries
- 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.
Life Insurance
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