Accident & Disability Insurance

Accident and Disability Insurance are types of coverage designed to provide financial support in the event of an injury or illness that prevents you from working. They offer protection beyond traditional health insurance by helping to cover the costs associated with accidents or disabilities, ensuring you can maintain financial stability during recovery.

Accident Insurance provides a cash benefit if you're injured in an accident, whether at home, work, or while participating in recreational activities. This type of insurance is designed to help cover out-of-pocket expenses that may not be fully covered by health insurance. 

Accident insurance typically pays a lump sum directly to the policyholder after a covered injury, which can be used for any purpose, such as medical bills, household expenses, or lost income. 

This insurance usually covers a wide range of injuries, including fractures, burns, concussions, dislocations, and more. Some policies also cover accidental death and dismemberment. 

Accident insurance is often used as a supplement to other insurance policies, providing additional financial support during recovery. 

Unlike traditional health insurance, which pays providers directly, accident insurance benefits are paid to you, allowing flexibility in how the funds are used. 

Disability Insurance provides income protection if you're unable to work due to a disability caused by illness, injury, or accident. There are two main types of disability insurance: short-term and long-term. 

Disability insurance replaces a portion of your income, typically between 40% to 70%, if you're unable to work due to a qualifying disability. This helps you manage everyday expenses such as mortgage payments, utilities, and groceries. 

Short-Term Disability (STD): Covers temporary disabilities and typically provides benefits for a few months to a year.

Long-Term Disability (LTD): Provides coverage for more extended periods, often until retirement age, or until you can return to work.

Disability insurance policies often have an elimination period (waiting period) before benefits begin, typically ranging from a few days (for STD) to several months (for LTD) 

Some policies provide benefits if you cannot perform the duties of your specific job (own occupation), while others only provide benefits if you cannot perform any job for which you are reasonably qualified (any occupation). 

Some disability insurance policies are portable, meaning you can take the coverage with you if you change jobs.

Some policies offer benefits if you can return to work part-time but not full-time, helping to bridge the gap in income.