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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.
How disability insurance works
When purchasing a disability insurance policy, you will select the cover amount (typically a percentage of your pre-disability income)
The waiting period is the time between the onset of disability and when the benefits start
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.
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.
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.
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
Why do you need a
MBFS Personal Lines Insurance Broker
01
Expertise and tailored advice
Our Broker understands the intricacies of different policies and covers. They can assess your unique needs and risk profile, recommending the most suitable insurance options for your home, car, valuables, and other personal belongings. This personalised approach ensures you are not overpaying for unnecessary cover or underinsured in critical areas.
02
Competitive quotes and cost savings
Our Brokers have access to quotes from multiple insurance companies, allowing them to compare rates and negotiate on your behalf. This can often lead to significant cost savings compared to dealing directly with individual insurers.
03
Streamlined claims handling
Dealing with insurance claims can be stressful and time-consuming. Our Brokers can navigate the claims process for you, advocating on your behalf with the insurance company. They can assist in gathering documentation, filing claims, negotiating settlements, and ensuring you receive fair compensation.
04
Ongoing support and maintenance
You develop a trusting relationship with your broker, who becomes a dedicated advisor understanding your business needs and evolving alongside it. Having a dedicated professional representing your interests provides peace of mind, knowing you have an expert looking out for your business's well-being. They proactively communicate about upcoming renewals, potential risk changes, and market updates, keeping you informed and involved in your insurance decisions.
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 cover
Can be tailored to specific needs and occupations, offering different benefit amounts and durations.