Disability-Income (DI) Insurance
An insurance product that provides supplementary income in the event of an illness or accident resulting in a disability that prevents the insured from working at their regular employment. Benefits are usually provided on a monthly basis so that the individual can maintain their standard of living and continue to pay their regular expenses. Investopedia Says:
Given the statistical likelihood of becoming injured or sick and being unable to work in one's regular occupation, DI insurance products are very useful and can be tailored to meet almost any individual's working situation. Related Terms:
Activities of Daily Living - ADL
Custodial Care
Federal Poverty Level - FPL
Long-Term Care (LTC) Insurance
Medicare
Own-Occupation Policy
Respite Care
Social Security Administration - SSA
Term Life Insurance
Universal Life Insurance |