The term “disability
insurance” means financial protection against loss or harm in case of disable. Modern
disability insurance means insurance giving protection economically for the
disables. The thinking of giving insurance on disables mainly started in England
1848. Earlier it was named accident insurance, as this help mainly giving on
accidents, and as car accident was common affair, all the peoples of all levels
getting interest on that policy, and popularity begun step up. There was
business policy behind this insurance, though it gave money on accident on the
basis of some conditions that need to be fulfilled. Now different branches of
disability insurance have made with new dimensions, new arenas, and new
policies.
For giving coverage,
The Disability Insurance Branch of the California Employment Development
Department (EDD) administers has
made three insurance plans where these plans were made on the basic of public
opinion among all State Plan
and it is the most popular for the majority of employees in California. Another
effective and attractive plan is Voluntary
Plan, which is a private plan that employers and employee
groups may apply to EDD for approval of a Voluntary Plan if the majority of
employees and the employers agree to do so. Elective
Coverage is another plan for Employers including general partners
and individuals in family.
Different types of disability insurance based on needs are given below.
