Disability health insurance cover is necessary for all. Even for the normal people!
Well, human life is like the cycle of seasons. There are good times, bad times and worst times. In the event of a disability everything may go haywire. Talking about your working career, you have limited income and many fixed responsibilities.
To meet such an eventuality, disability health insurance is thus needed. The policy is all about getting certain about the uncertainty, from the financial point of view.
If the organization you are working with is offering you the schemes as part of the terms and conditions of your service to provide you with the disability health cover, it is well and good. You can as well make your private arrangements to be a member of such a scheme by taking a policy and making regular premium payments. In the later case, the premiums are free from income tax.
However, when you make the decision to buy the disability health policy, do read several online quotations from some reputed brokers and study the terms and conditions carefully. For, there are many companies and many policies. The advantages detailed therein are also many. Your broker can also be your adviser in this matter.
But remember, brokers are also businessmen. They may deliberately try to promote an insurance company that offers more percentage of brokerage to them. Think from both the angles- why you should listen to the broker's advice and why you should not.
Disability is a condition that bars one from performing the normal physical and mental functions. However there are certain permanent types of disabilities like blindness also. But the disabled persons enjoy certain fundamental rights. They are accommodated and given chance to work in places where it is safe and comfortable for them to work. They have a right to participate in all government activities.
You cover under the disability health scheme will not debar you from taking health insurance policies for various purposes. Many organizations provide compulsory insurance cover, what is called group insurance cover to their members. There is substantial discount in premiums in such cases.
In many health insurance policies, clauses for accidental insurance, disability income insurance, medical expenses insurance and accidental death and dismemberment insurance are also provided.
God forbid, in the hours of extreme distress of disability, the value and support of disability health insurance is the only savior. It would be- having taken a right step at the right time!
