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What Happens if You Get Hurt?

Disability insurance, also known as disability income insurance or disability income protection, is a type of insurance coverage that provides financial protection to individuals in the event they become disabled and are unable to work due to an illness or injury. It is designed to replace a portion of the individual's lost income during the period of disability.

Disability insurance policies typically pay a percentage of the individual's pre-disability income, usually ranging from 50% to 70%. The exact amount and duration of the benefits depend on the specific policy terms and conditions. Some policies provide coverage for short-term disabilities, while others cover long-term disabilities or a combination of both.

Disability insurance can be obtained through various sources. It may be offered as an employee benefit by an employer, either as a group policy or as an optional individual policy. Individuals can also purchase disability insurance policies directly from insurance companies.

It is important to note that disability insurance typically has a waiting period, known as the elimination period, before benefits start to be paid. This waiting period can range from a few days to several months, and the policyholder must be unable to work during this time due to the disability.

Disability insurance can provide a crucial financial safety net for individuals who rely on their income to support themselves and their families. It helps cover living expenses, medical bills, and other financial obligations when the policyholder is unable to earn a regular income due to a disability.

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