What Are The Functions Of Disability Insurance?

  1. 12689 POINTS
    Ted Ratliff
    Owner, SFS Associates,
    I am not sure what you mean by "functions".  Disability insurance is designed to pay a percentage of your income, usually between 60% and 80% if you become disabled due to an injury or accident.  You choose an elimination period which acts as a deductible.  The elimination period is the period of time that goes by after you become disabled before the insurance begins to pay.  The longer the elimination period the lower the premium.  Each company has options as far as the elimination period, most common for Short Term disability might seven days sickness and zero days accident but this can vary according to circumstances.  Short Term disability will provide income for the period of time specified in the policy, usually not more than a year or two, but again, that varies.
    Answered on June 19, 2013
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