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Disability Insurance

Disability insurance is a type of personal insurance designed to pay out if a person is unable to do work and earn due to a disability. Different types of disability insurance are available, and each has its own specific rules as to what constitutes a disability and how the person might qualify to receive the benefit. There are two types of disability insurances that you need to know, namely long term disability insurance and short term disability insurance.

Disability Insurance

How does Disability Insurance work?

Long term insurance and short term insurance offer more or less the same benefit. The only difference would be regarding the tenure of the disability. The detailed working of the two schemes is given below. 

  • Long term disability insurance: Long term disability insurance is designed for circumstances in which the worker will be disabled and not able to work for several months. The period can be a year or even multiple years. In this case, the insured will receive a specified percentage of his/her average income, which can be utilized to pay bills and other expenses.
  • Short term disability insurance: Short term disability insurance differs from long term disability insurance in significant ways. Short term disability insurance is designed to pay out when the insured employee is not able to work for a short period. The tenure can be between a month and an entire year. These plans vary significantly concerning the insurance provider, and the person may need to use up his sick time, personal time, and vacation time before the policy begins. Once the policy starts, the insured person will receive a specific percentage of his/her average income, which can be used for their needs.

Why would you need Disability Insurance?

Simply speaking, every single person is at risk for disability. Figures show that a healthy middle-aged man has a 21% chance of being disabled for three or more months during his career. It has also been estimated that 40% of the people who experienced disabilities will not be able to work for at least five years. So there is no classification regarding the people who need to opt for this insurance. Everyone is recommended to buy this policy.

The most important benefit of buying disability insurance irrespective of whether it is short term or long term is the peace of mind that comes from financial stability. As both short term and long term disability insurance provides the insured person with a fixed income during the specified period of the policy, that amount can be used to carry out the temporary financial obligations of the concerned person and thereby avoid financial insecurity.

Lenin Raphael
Lenin Raphael
2024-05-15
Just purchased my second car insurance policy from Ishan Ullah. Great Service. Proactive. Responsive. Highly Recommended! Looking forward to coming back to Ishan next year for my third policy. Thanks Ishan!
Zahid Iqbal Sheikh
Zahid Iqbal Sheikh
2024-05-02
I bought a car insurance from here and the experience was smooth. I was assisted by Mr. Prathvi Singh along the way. Despite a minor issue, he was able to handle the issuance properly with his responsiveness and proficiency. I truly appreciate their dedication to client satisfaction. Highly recommend!
sakthi kumar
sakthi kumar
2024-04-29
Good Followups & very friendly
Salman Ali Shahid
Salman Ali Shahid
2024-04-29
We have been dealing with petra for a very long time. A problem that occurred to our building. And Mr. Adrian was the person in charge who had to complete all the tasks. He has completed his required job and he has done an excellent work due to which we have ontained our refunds back from the insurance. And also the required approvals on timister. Adrian was well prompt office work and also was very. Quick and responding to all the corespondence Either through WhatsApp or email promptly, so the appreciation goes towards the good job done.
Sam Sadmi
Sam Sadmi
2024-03-13
Don’t know much about Petra but I know Hero as I dealt with him for many years. Also before he joined Petra. Very reliable and great service. So for me it’s about the people that you work with.
saji velayudhan
saji velayudhan
2024-03-12
Recently I had purchased vehicle insurance policy through Petra insurance broker LLC. My insurance advisor Mr. HERO BULACAN really put his maximum effort for my requirements and assisted in getting an optimum policy. It is worth mentioning that I was also approached other brokers, but unable to get a good deal. Mr. Hero is very transparent and prompt in response. Getting an agency repair within your budget is a challenging task which Mr. Hero has done it in a systematic manner. Thanks for that.
Sonya Coates
Sonya Coates
2024-03-12
Hero is, absolutely amazing he has been my broker for years I have followed him everywhere. Highly recommend him and his new company Petra. Thanks Hero you really are our family hero ha ha
Mohannad Alkhofash
Mohannad Alkhofash
2024-03-11
Excellent experience with Petra Insurance Broker! Their service is top-notch, and the website is user-friendly. Special thanks to Prathvi for making the process smooth and being incredibly helpful.
Natasha Wanda Noval
Natasha Wanda Noval
2024-03-09
This is to express my sincere gratitude for the exceptional service we received during our recent motor insurance renewal. I would like to specifically thank Nishad and Prathvi for going above and beyond to assist us even if it’s weekend. Their willingness to help made the renewal process smooth, efficient and just be on time of our renewal date. Thank you once again for the outstanding customer service.

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