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Disability insurance allows people to still receive some income while they are unable to work, so that they are still able to get money to provide for their expenses. Contrary to popular belief, California disability insurance does not only cover injuries; it also provides protection for any event, both work- and non-work related, that will prevent a person from earning an income. Thus, the policy provides coverage for injuries, illnesses, and pregnancy. However, the amount of coverage provided will depend on what is stipulated in the policy. Furthermore, the time where the benefits will begin and how much income replacement will be given by the insurance company may also be dependent on the terms stated in the policy.
There are different kinds of disability insurance:
State disability provides limited coverage for residents in case of disability. The amount they replace is variable, and can range from 50 - 60% of the income. Currently, there are only five states in the U.S. that provide this coverage: California, Hawaii, New Jersey, New York, and Rhode Island.
Long-term disability protects people up to age 65 years of age. Because of the long benefit period, the elimination period can also be long to make the premium affordable.
Social security disability is provided by the Federal Government. Because it is a government program, it is not an easy task to be considered qualified for its benefits.
Group disability. Some companies also provide group disability for their employees. Leaving the company will cause employees to lose group disability coverage.
If you're interested in purchasing California disability insurance, please visit the website of Bradley Associates Insurance Service at http://www.bradleyassocs.net/california-disability-insurance.php.
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