As sad as it may sound, but emergencies never come with a warning sign. One day you are completely healthy travelling to your office, earning a healthy life and the next moment (god forbid) you can be temporarily or permanently bedridden due to an accident or some medical condition and not be able to meet your financial obligations. This is where disability insurance can cater to you and your family’s financial needs. Contact our team at NOB for more details.
To start with, you will have to know that this type of insurance will replace only a maximum of 85% of your regular income, not the whole amount on your regular paycheque. Now, considering that you are planning to apply for this policy, there are two types of disability insurance policies that you should know about.
Short-term disability insurance:This type of policy is ideal for those who are confident that they can get back as a full-time working employee within an estimated amount of time. This can be anywhere between 3 months to a year. Once you have your doctor’s support you can submit the necessary documents and we will start with the process.
Long-term disability insurance:This replaces the monthly income payments for any customer who cannot return to a full-time job due to an accident or illness. You will be getting a monthly fixed amount or a percentage of your salary for a certain period (can be up to 10 years) or till a certain age (often till 65 years).
You will have to understand that when you are not working full time, you will not be making the same amount as you used to. So you may have to rethink what to spend on and what not to. Our team members are here to advise you as per your financial needs so you don’t need to make too many compromises just because you can’t go to work. We can help you plan on how you can pay your monthly mortgages, repay your debts and still have enough in your bank account so you can enjoy a good lifestyle.
Slowed walking (hip problems, foot disorders)
Limited upper body mobility
Inflammatory Bowel Disorder
For the full list, contact our team.