Disability

Protect you and your income through our expert brokers

What Is Disability Cover ?

Disability insurance provides financial support to policyholders who become disabled and are unable to work, either temporarily or permanently. This support comes in the form of regular income replacement payments. A client might take out a disability insurance policy to secure financial stability in case they become disabled and unable to earn an income.

Keep in mind that disability insurance is different from critical illness insurance policys, as it focuses on providing income replacement when you're unable to work due to disability rather than paying a lump sum upon the diagnosis of a specific critical illness.

A first hand experience

Becoming disabled is an awful experience, especially if you don't know all of the pitfalls that lie ahead. Nick chats to Philip to tell us his experience and underlining costs in the event of becoming disabled.

How disability insurance works

Purchase a policy

When purchasing a disability insurance policy, you will select the coverage amount (typically a percentage of your pre-disability income)

Waiting period

The waiting period is the time between the onset of disability and when the benefits start

Claim initiation

If you become disabled and meet the policy's definition of disability, you must submit a claim with the necessary medical documentation to the insurance company.

Benefit payments

Once your claim is approved, the insurance company will begin making regular payments to you, replacing a portion of your lost income. These payments will continue for the duration of the benefit period specified in the policy or until you are no longer considered disabled.

Rehabilitation and return to work

Some disability insurance policies may include provisions to cover rehabilitation costs or provide incentives for policyholders to return to work, such as partial disability benefits or a gradual decrease in benefits as you transition back to your job.

Policy termination

Disability insurance policies generally remain in force as long as you continue to pay premiums and meet the policy's terms and conditions. The policy may terminate when you reach a specific age (often 65) or retire

Benefits of disability insurance

Income replacement

Provides regular payments to replace lost income due to disability.

Financial security

Ensures financial stability for the policyholder and their family during a challenging time.

Rehabilitation support

May cover the cost of rehabilitation services to aid in recovery.

Customisable coverage

Can be tailored to specific needs and occupations, offering different benefit amounts and durations.

Tax benefits

Disability insurance payouts may be tax-free or taxed at a lower rate, depending on the policy.

Adaptation assistance

Can provide funds to make necessary home or vehicle modifications due to disability.

What other clients also insured

Income Protection

Income Protection is a way of securing your financial security in the wake of not being able to earn due to accident, unemployment or illness.

Estate Planning

Estate Planning means that after the time of your death, the transfer costs of your wealth and assets will be neatly covered by our cover.

Funeral

Funeral Cover is a type of life insurance that allows you to cover the costs of burial services for you or a loved one.