ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -What is Disability Insurance? Disability insurance, as the name implies, is a sort of insurance that pays out if a policyholder is unable to work and earn an income due to a disability. In case of an accident or disease, such a policy can protect you financially if you become disabled as a result of it.

Detailed explanation-2: -Short-Term and Long-Term Disability Insurance If you cannot work because you are sick or injured, disability insurance will pay part of your income. You may be able to get insurance through your employer.

Detailed explanation-3: -A personal accident insurance policy is specifically designed to offer financial protection against injuries, permanent disability, or death resulting due to an accident. Moreover, substantial compensation is provided in case of accidents when travelling.

Detailed explanation-4: -Then we examine in greater detail the three most important types of insurance: property, liability, and life.

Detailed explanation-5: -money that is paid by the government to someone who cannot work because of an illness, injury, or medical condition: If your injuries are bad enough, you will have to claim disability benefit.