Health Insurance for Individuals of Indiana Includes Disability Plans
One of the most common types of health insurance for individuals of Indiana is disability insurance. This type of coverage is designed to protect people who arenýt able to attend work due to an injury or illness. Of course, if you're not able to work then chances are you're not receiving an income. A disability insurance plan will replace a portion of your lost income if you can't work.
Some employers offer group disability plans to employees. However, if you're getting this type of insurance at work you make sure you look the policy over to see if it offers enough coverage to meet your financial needs. You may find that some group insurance plans only cover short-term absences from work up to six months or if they're long-term the percentage of benefits paid is quite low.
If you feel you don't have adequate coverage you may want to buy more to extend the benefits period once your group plan runs out. Many people do this by purchasing an individual disability insurance plan. If you don't have a group insurance plan or are self employed then this could be a wise choice since you'd be left without a regular paycheck if an accident or illness struck.
If you did happen to suffer an accident or sickness that kept you from working, you'd lose your income and possibly be facing expensive medical bills. This type of health insurance for individuals in Indiana isn't designed to replace your entire income. It's designed to make sure you can financially sustain yourself while disabled.
The amount of benefits you receive could be a percentage of your income or may be a specific dollar amounts. Most disability plans provide benefits of between 50 and 70 per cent of a personýs regular income. To be eligible for the benefits you must be considered unable to perform your job duties, but each insurance policy varies, so make sure you understand what the planýs definition of total disability is.
You also need to know if the policy covers both accidents and illnesses or just accidents. Also, most disability plans have a waiting period before they start to pay benefits. These are just a few of the things you should know about disability insurance, but there are several others. The best way to learn about health insurance for individuals in Indiana is to enlist the aid of a licensed health insurance agency such as www.healthinsurancemark.com.
We'll gladly provide you with all the information needed to make an informed decision when it comes to choosing the right type of insurance plan for your specific situation. We'll also seek the most competitive rates by obtaining several quotes from numerous insurance companies. You can also contact us at 317-663-7602 for personal assistance and check out our free, instant quote engine for no-obligation online quotes.