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Importance of having disability insurance

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Importance of having disability insurance

Importancia de contar con un seguro de incapacidad

Having disability insurance should be considered an investment in both the insured and the family’s health and safety. When speaking of disability life insurance, it refers to a contract acquired through an insurance company, which undertakes to provide a series of benefits to the user in exchange for a permanent policy. It can be for monthly or annual installments.

A disability policy is a type of insurance that protects employees in the event of suffering any mishap or accident within the working day and/or within the work facilities. It covers transportation from home to work and vice versa. Thanks to the Association for the Defense of the Insured, Consumers and Users (ADACU), an accident is considered any event external to the insured that is sudden, unforeseen, or violent. It’s independent of the person who experiences it.

Disability insurance works so that the insurer pays an insured amount to the beneficiary if he or she suffers from an incident due to work risk; the sum insured will depend on the employee’s level of damage.

This policy’s importance lies in the fact that, in the event of suffering an accident that causes permanent or temporary disability, the insured person knows that they have coverage for medical expenses and, if necessary, hospitalization. Likewise, it is possible to obtain an insured amount before death, in case you suffer from a terminal illness or accident.

Disability insurance includes the following points:

  • Accidental death is covered in the basic coverage policy. In case the insured employee loses his life as a result of an accident, the insurer will pay the beneficiary the sum insured according to the policy contracted.
  • Organic losses, which is rated as additional coverage, means that if the insured employee survives the accident but loses one or more limbs of his body, the insurer will pay the insured sum percentage according to the corresponding scale.

All work brings its risks. For this reason, contemplating the importance and effectiveness of having disability insurance turns out to be helpful in terms of extra expenses.