The Two Main Types Of Medical Disability Insurance

Generally speaking, medical disability insurance can be categorized in two main different types of insurance.

1. Private - either individual or group policies which have been bought from various companies.

Private medical disability insurance usually refers to that certain type that you bought using the services of a certain company. There are many types of private disability insurance that exist, and among them we can list:

- individual disability income policy;

- group policy;

- group association policy;

- riders which are attached to life insurance policy.

Generally, depending on exactly what type of policy you chosen, private disability policy will offer you more benefits for insured individuals than for social insurance. Disability income policies which are owned by individuals might usually offer more coverage, at a more expensive price of course, which are also followed by group policies which are being offered by a certain employer or various associations. Do a small research to see if you are eligible to participate in such a group plan, and if by any chance you are not eligible, get in touch with your broker to check for individual coverage.

2. Government - social insurance which generally have been provided by state or various federal government.

The most well known government insurance programs are:

- Workers' Compensation;

- Social Security.

Five states from United States of America have such mandatory programs which are generally providing many benefits to US residents. If by any chance it happens for you to be a military service member, a service worker, or even a local government employee, there are many programs of this type which are designed to help you. However, such disability programs are designed to provide only limited benefits as well in certain situations under very restrict terms, and you should know better than rely on them.

by: Willis J. Watson

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