Tuesday, December 6, 2022

Are You Covered By Disability Insurance If You Have COVID-19 Related Illnesses

With coronavirus not sparing any country across the world, insurance companies are scrambling to offer insurance plans that cover coronavirus-related illness and disability. If your illness requires you to stay quarantined which may affect your ability to work and your income, your disability insurance can come to your rescue. Read about COVID-19 Related Illnesses and Disability Insurance below.

Short-term disability insurance coverage offered by many employers may protect employees in situations where they have to remain away from work because of coronavirus infection. To claim disability insurance benefits, a medical professional must certify that the employee will not be able to work. Long-term disability insurance can also come to the rescue of employees suffering from corona-related complications that keep them away from work for 90 days or more.

Medical Quarantine and Social Quarantine

Insurance experts state that your reason for staying away from work must be related to a medical reason. If you are unable to go to work because your state has mandated that you work from home because of the growing cases of COVID-19, you will not be able to enjoy the disability insurance benefits. There is a difference between social and medical quarantine and it is only because of the latter that you will qualify for disability benefits.

It is equally important to note that you will not be able to purchase disability insurance benefits if you are already sick. That’s why being proactive in contacting a reliable disability insurance broker and buying a disability insurance policy can be beneficial.

Short Term Disability Insurance And COVID-19

You must have serious health limitations that do not allow you to work if you want to claim disability insurance benefits. Short-term disability insurance services offer cover for illnesses caused by COVID-19 if you are sick and cannot attend work because of that illness. A doctor must check and certify that you must self-isolate as you are at the risk of spreading the virus to others at your workplace. Only then will you be able to claim the benefits offered by disability insurance.

Long Term Disability Insurance And COVID-19

It is unlikely that you can claim benefits from your long-term disability insurance plan unless you suffer long-term health issues because of a condition brought upon you by COVID-19. The elimination periods for long-term policies might not allow you to make such claims. Long-term disability benefits have elimination periods of a minimum of 90 days. It is unlikely that a medical professional will advise you to stay away from work for 90 days or more. Generally, the illness-related quarantine is limited to two or three weeks at the most.

Applying for long-term disability insurance that offers extensive and valuable protection can be extremely useful for your family. Short-term disability insurance benefits are unlikely to help if you sustain a serious medical condition such as chronic respiratory illness because of COVID-19. Long-term disability insurance can come to your rescue if you get a chronic health issue as a result of the side effects of coronavirus. 

MGIS is one of the leading insurance program managers offering income protection and other insurance products that provide protection from income loss due to disability. MGIS offers specialized insurance programs for individuals as well as medical professionals.

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