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Although the chances of become disabled through accident or illness are very low, the burden of the condition can be extremely high, and often people cannot cover their costs. It is up to the individual to decide if there is apparent 'worth' in the insurance.
Credit card protection is a form of insurance which an individual can take out with an insurance company. If the individual becomes unable to pay off their credit card debt due to illness or redundancy for example, the insurance will cover the debt.
One on line Travel Insurance Company would be Total Travel Insurance. One might like to look into that if they are traveling once they book a trip. It guards against them losing money they have paid for the trip should an illness arise and they are unable to make that trip. There is also International medical Insurance that you can purchase for traveling abroad as well.
People who become disabled from an illness or injury are generally elibible for SSD or SSI depending upon their individual circumstances. When a person qualifies for Social Security Disability benefits they can usually receive early Medicare and/or Medicaid. Visit the Social Security Administration website or call 1-800-772-1213 for information about qualification requirements and the application procedure. Please be advised there is a waiting period after the application has been submitted. For job related injury or illness the person should also contact the Workman's Compensation Insurance provider for his place of employment. http://www.ssa.gov Note that the waiting period for Medicare for disabled people is 2 YEARS...for for that period the disabled are on their own as far as medical care goes
Mental illness affects not only the individual with the illness, but also the individual's family, friends and those in their social circle.
Compare The Market is a great site to compare the price of critical illness life insurance cover. It is great to help an individual find the best insurance quote.
Becuase the risk (paying for serious illness treatments) to the insurance company is spread out over a larger pool of individuals.
Yes - that is the purpose of disability insurance. It replaces a portion of your income if you become unable to work because of a covered accident or illness. Contact an insurance agent to get a policy. Coverage needs to begin prior to becoming disabled.
Disability insurance covers your ability to earn an income. If for any medical reason (illness or injury) you are not able to perform 100% of your duties of your occupation, you are considered disabled or partially disabled. Depending on the definition of disability on your policy, you may even get paid a disability insurance benefit even if you can still work part time or have a loss of income of minimum 15-20% due to your disability/ health issue.
Mortgage insurance protection comes in handy if you happen to lose your job or become disabled. If you die the insurance will pay off your mortgage as well. Basically it depends on how healthy you are and if you want the security of knowing your house will be taken care of if illness falls upon you. Mortgage insurance protection is not necessary.
"The only beneftis of a temporary medical insurance policy would be for a health individual and/or someone who does not have a chronic illness. It is a great way to not get locked down into a monthly payment you do not have to make, but if you need health insurance it is almost a scam."
Critical illness insurance or critical illness cover is an insurance product, where the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the critical illnesses listed in the insurance policy.