Disability is one of the oldest forms of health insurance. There are many types of disability insurance, but they all have one thing in common. They cover you if you're unable to work. Here is information about disability insurance. more »
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Disability insurance, often called disability income insurance, is a form of insurance that insures the beneficiarys earned income against the risk that disability will make working (and therefore earning) impossible. It includes paid sick leave, short-term disability benefits, and long-term disability benefits."uslabor">
Types of disability insurance
National social insurance programs
In most developed countries, the single most important form of disability insurance is that provided by the national government for all citizens. For example, the UKs version is part of the National Insurance; the U.S.s version is Social Security (SS)—specifically, several parts of SS including Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI). These programs provide a floor beneath all the other piecemeal forms of disability insurance in our societies. In other words, they are the safety net that catches everyone who was either (a) otherwise uninsured or (b) otherwise underinsured. As such, they are very large, very important programs, with many beneficiaries. The general theory of the benefit formula is that the benefit is not large but is enough to prevent abject poverty.
Employer-supplied disability insurance
Since one of the top reasons for becoming disabled is getting hurt on the job, it is not surprising that the second-most important form of disability insurance is that provided by employers to cover their employees. There are several subtypes that may or may not be separate parts of the benefits package: workers compensation and more general (but very basic) disability insurance policies.
Workers compensation
Workers compensation (also known by variations of that name, e.g., workmans comp, workmens comp, workers comp, compo) offers payments to employees who are (usually temporarily, rarely permanently) unable to work because of a job-related injury. However, workers compensation is in fact more than read more at » http://en.wikipedia.org/wiki/Disability+insurance
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