OTHER Insurance Options
Any risk that can be quantified can potentially be insured. Specific kinds of risk that may give rise to claims are known as perils. An insurance policy will set out in detail which perils are covered by the policy and which are not.
Disability Insurance
There are two types of disability insurance
Short-Term Disability (STD) and Long-Term Disability (LTD)
1. Short-Term Disability policies – have a waiting period of 0 to 14 days with a maximum benefit period of no longer than two years.
2. Long-Term Disability policies – have a waiting period of several weeks to several months with a maximum benefit period ranging from few years to the rest of your life.
1. Short-Term Disability policies – have a waiting period of 0 to 14 days with a maximum benefit period of no longer than two years.
2. Long-Term Disability policies – have a waiting period of several weeks to several months with a maximum benefit period ranging from few years to the rest of your life.