Case Study on How Insurance Would Have Helped Unfortunate Man
I read in the papers about a very unfortunate case about a man who accidentally slipped and fell on a walkway wet from rainy weather, causing him to be paralysed from the neck down.
He is now suing the town council for negligence and seeking compensation for medical expenses, loss of earnings, transport costs as well as pain and suffering.
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More on Disability Income Insurance
There is some confusion between Disability Income (DI) insurance and insurance coverage that provides a payout for Total & Permanent Disability (TPD). Despite already writing a post introducing DI insurance before, I believe that more clarification is good to clear the air regarding such a policy that few people, including industry practitioners, are aware of.
TPD coverage is a lot more commonly explained as it is found in many insurance policies. DI insurance, on the other hand, is a very specific type of policy which coverage is markedly different from TPD but often conflated to be the same as they both seem to cover “disability”.
Types of Life/Health Insurance Coverage
It may be a little overwhelming for someone who has little to no experience in insurance to start figuring out what kinds of insurance coverage are available and more importantly – what are the ones really essential to him or her. I hope to highlight the more important forms of coverage and their intended purposes so that people have a better idea on where to start thinking about their insurance portfolio.
While not exhaustive, here are some of the more important forms of coverage.