Different Types of Insurance Policies
Updated: Mar 2, 2021
By: Jordan Thompson, Associate Lawyer
Short- and long-term disability polices are purchased to insure you incase you become disabled from work. These policies usually pay a certain percentage of your income at the date of disability.
Life insurance is insurance that is payable upon death of the insured persons life. These policies usually pay a set sum of money that is defined in the policy.
Accidental dismemberment insurance is insurance that is payable upon loss of limb or senses due to an accident. As an example, if an accident causes loss of a leg the policy pays out a sum of money to the insured as defined under the policy.
There is also insurance that can be purchased for mortgages/credit cards/vehicle loans that cover payment of the loan amounts in the event that you become disabled from work. As an example, you can have insurance on your car loan that, if you are disabled, cover loan payments for twenty-four month following disability.
For more information or if you believe you have been wrongfully denied benefits available to you under these policies, please do not hesitate to contact the Mike Murphy Accident Team for more information of a free consultation.
DISCLAIMER: The publications on this website are intended to provide information of a general nature and not legal advice. The information contained in this publication is current to the date of the publication and may be subject to change following the publication date.