What Types of Disability Insurance Are There?

With so many different insurance options out there, it can be difficult to choose the right policies for you and your family. Disability insurance is one of those covers that people often dismiss, wrongly assuming that their life insurance or dread disease insurance will provide the same level of protection. In actuality, if you are a provider in your family, or have dependents, disability cover is a necessary policy to invest in.

Accidents and illnesses can happen at any time, and leave you struggling financially. The last thing you need when you’re trying to recover is extra stress. Compendium’s disability insurance safeguards you by providing you with an income if you are unable to work. You can tailor your disability insurance to suit your needs: for example, you can specify monthly payments that will cover your expenses like rent or a bond, bills, or school fees. If you speak to one of our experienced brokers on 087 724 9390 they can discuss all the options, and help you choose the right policy for you.

Compendium’s disability policy is highly flexible. It offers income protection at a time when the last thing you want to be doing is worrying about money. When you take out your policy, you can specify that you simply want to receive a large lump sum payment, or choose a smaller immediate pay-out and get a monthly income in addition. It’s important to inform your broker of your profession and monthly income, so that your policy can be calculated to have the optimum benefit in case you need to claim. If your position changes, or your income is altered, make sure to call and update your policy.

This cover is linked to inflation, so you won’t lose out if you have to claim. If you are unlucky enough to be injured unexpectedly, our sympathetic and professional experts will help you to claim your compensation quickly and easily. Once your claim is processed, you can use your compensation in the way that suits you best; this includes paying medical bills, hiring a nurse, and covering your everyday expenses.

To get a 360 degree level of cover, and protection against an uncertain future, Compendium recommends you combine your disability policy with a number of others, such as dread disease cover and life insurance. Dread disease insurance covers you if you are diagnosed with a terminal illness, helping to cover medical expenses and lost income. Life insurance pays out a lump sum to your next of kin, or a specified recipient, on the event of your death.

It’s natural to want to avoid thinking about being hurt, injured, or unable to work, but preparing for the unthinkable could make your future so much easier. A short phone call with one of Compendium’s expert advisors could help you futureproof your life, and protect your family in case the worst happens.

Speak to one of our experts today on 087 724 9390 and discuss your options. It’s time to safeguard your future.

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