Invest In India

Would you mind if somebody pays you after your retirement or even before? If yes is the answer, then insurance is the best solution. Before investing in any insurance, get a brief idea of the plan you would like to invest upon. The insurance is broadly categorized as life or medical for people. There are also some insurance which have multiple benefits like medical insurance added with life insurances.

Studies reveal that there is a considerable risk for a person losing his job due to permanent disability. In that scenario, the person has to spend a considerable amount of money for his health as well as family needs. Disability insurance is still unreached for many people. The benefits from this insurance are good for people who are unable to continue his job due to permanent disability or illness.

The premium to be paid depends on many factors like age, sex, occupation, etc. The premium rates are comparatively high as the risk involved is also high.  The insured person may get up to 60 percent of the salary drawn by him before he got disabled under log term scheme. Disability insurance is given in two options based on individual’s convenience as long-term and short-term. In short term, the insurance company pays almost seventy percent of the monthly income drawn by the person in a specific time period till his retirement.

In long term disability insurance, the person is eligible for coverage almost close to his salary drawn. The coverage period ranges from minimum of six months to maximum of his retirement period. While applying for disability insurance, the following things needed to be made clear. The first is that the amount invested or premium paid is taxable. The second is that there is minimum possibility of withdrawal before the maturity period.