What is the Definition of Disability in Insurance Terms?

What is the Definition of Disability in Insurance Terms?

In disability insurance, the inability of an insured person to work due to an injury or sickness. Each disability policy has a definition of disability that must be satisfied in order for the insured to receive the policy’s benefits. (See Residual disability; Total disability)

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Insurance?

What is the Definition of Disability in Insurance Terms?


What is the Definition of Disability in Insurance Terms?

Check out other definition of insurance terms below:


Meaning of Weather Insurance in Insurance Terms

A type of business income insurance that compensates for financial losses caused by adverse weather conditions, such as constant rain on the day scheduled for a major outdoor  concert.


Meaning of Whole Life Insurance in Insurance Terms

The oldest kind of cash value life insurance that  combines protection against premature death with a savings account. Premiums are fixed and guaranteed and remain level throughout the policy’s lifetime.


Meaning of Workers Compensation in Insurance Terms

Insurance that pays for medical care and physical rehabilitation of injured workers and helps to replace lost wages while they are unable to work. State laws, which vary significantly, govern the amount of benefits paid and other compensation provisions.


Thank you for visiting our website and read this FAQ article about "What is the Definition of Disability in Insurance Terms?". We hope you get what you searching for.

definitionly.com is a website that contains information about the definition or meaning of a word. You can search for the word you are looking for in the search field above.

Related Posts

Subscribe Our Newsletter