What Are the Different Types of Disability Insurance?

Types of Disability Insurance Policy

Who Is Eligible for a Disability Insurance Policy?

Why Is a Disability Insurance Policy Important?

Things to Keep In Mind When Buying a Disability Insurance Policy

FAQs on Types of Disability Insurance

How is disability insurance different from a rider? up-arrow

A disability insurance rider provides only added coverage that is included with some other plans. However, a disability insurance policy offers comprehensive coverage that is highly reliable during crucial moments.

What are the exclusions of disability insurance policies? up-arrow

The exclusions under the disability insurance policy are as follows:

  • Disability due to normal pregnancies, war, suicide attempts, and so on.
  • Any disability caused due to incarceration.
  • Disability due to pre-existing medical conditions.

What are the documents required for the settlement process of a disability insurance plan? up-arrow

The claim settlement process of a disability plan requires the following documents:

  • Essential hospital bills
  • Discharge form from the hospital
  • An incapacity certificate that the members of the medical board issue.

What are guaranteed renewable and non-cancellable disability insurance? up-arrow

In the case of a guaranteed renewable policy, you can renew and increase your premiums during the policy duration for better coverage.

Non-cancellable disability insurance premiums are those the insurance company cannot cancel unless the policyholder stops paying premiums on time.