Should you become permanently or partially disabled and unable to perform your job, how will you maintain your lifestyle? If you are not working, unless you have a very generous employer, it is likely that you will not be getting paid. A Hong Kong Life Insurance plan which includes a Disability Income Protection rider is designed to protect you for up to 75 percent of your annual salary in the event that you cannot fulfil the duties of your employment because of a partial or permanent disablement.
CCW can provide HK Disability Income Protection options which will continue covering your salary for 2 years after the incident which left you disabled, and can offer policies which continue to provide coverage all the way to 65 years of age.
If you are a musician with a broken hand, or a factory foreman with a broken leg, a Hong Kong life insurance plan which includes a Disability Income Protection benefit in Hong Kong can help you to maintain your lifestyle without having to worry about where you will find the money to support your family.
Disability Income Insurance protection may not be a suitable product for everyone. However, if you are concerned about your loss of income following an accident which has left you unable to perform the normal duties of your employment, if you work in a specialized or dangerous industry, or if you simply wish to ensure that your family will be able to manage financially while you are recovering, then this type of product can be a good consideration.
Examples of injuries and disabilities covered by a Disability Income Insurance plan include:
Essentially, if you are unable to work due to the injury, sickness, or disability you are suffering from then the HK Disability Income insurance will ensure that you are still able to receive money during your recovery; alleviating the burden and stress of having to worry about your finances while you are recuperating.
This is important, especially in Hong Kong, due to the many costs involved with day-to-day life in the city. Factors such as exorbitant rental and property prices can be high burdens without a regular income, and without the ability to pay your rent, or mortgage, you may be forced to relocate to another location within the city, or even back to your home nation.
Additionally, unless your company provides for your children’s education through a debenture program, the fees associated with International Schools in Hong Kong can be hard to manage without a constant source of income. In this case it is likely that you would wish to ensure your child’s continuing education, which is best achieved through the purchase of a plan like a Disability Income protection policy.
There are a number of important considerations in relation to disability income insurance coverage in Hong Kong which should be fully understood prior to the purchase of a policy.
The first major point of consideration for this type of plan is in relation to the length of coverage. There are actually a number of choices in this regard, and CCW Global can provide Disability Income options which offer protection to the policyholder on a short term basis of up to 2 years of coverage after an accident, or a long term basis where the plan is able to provide protection through to the policyholder’s normal age of retirement (usually 65 years of age).
It is important to understand that the Disability Income protection policies which provide income protection through to retirement age will normally be more expensive than those which offer only short-term coverage over the course of a few years.
Furthermore, it should be noted that Disability Income Insurance plans will not provide coverage for disabilities which were Pre-existing prior to the purchase of a policy. This means that only Disabilities caused by accidents, injuries, and illnesses which have developed following the purchase of the policy will be covered by the plan.
While Disability Income Protection Insurance plans can provide extensive peace-of-mind to you through the salary support offered, these products actually work even better in tandem with a number of additional protection insurance options.
Products which can be used to support a Hong Kong Disability Income insurance policy include:
In some cases it may be possible for CCW Global to provide Disability Income Insurance options which package these extended coverage benefits within plan, giving you the most comprehensive protection insurance policy possible.
If you would like to receive a free quote for a comprehensive Disability Income Insurance plan in Hong Kong, simply complete the short form at the top of this page and select Life Insurance from the menu when prompted to do so. Once we have received your quotation request an expert Hong Kong Life Insurance broker will contact you to further discuss your disability insurance needs and requirements.
For more information on this process please click Disability Income Life Insurance Quotes.
Alternatively, you can learn additional details about this type of insurance coverage, the options for Hong Kong insurance companies providing Disability Income insurance plans, or any of the other comprehensive Hong Kong Insurance plans offered through CCW by Contacting Us Today.