Does disability income insurance protects you in the case when you are diagnosed with critical illness, and can no longer go back to work?

It’s the disability to work in your current occupation.

So if having cancer, you can’t work in your existing occupation, it will pay you.

Ultimately it really depends what your current occupation is. Do you wanna share?

Hi,

I have a different opinion with what the others had shared. Disability income or Income Protection, I would say is the most important insurance plan one needs after the integrated shield plan. It is a plan that covers for your ability to earn an income and to be honest, the ability to earn an income is definitely everyone's greatest asset.

I agreed with the others that it may not be as straightforward when it comes to a claim as one needs to prove that he or she cannot perform the material duty of his or her occupation and as a result suffer a loss in income.

Simply put, if you are unable to work, this plan will pays after the deferrment period of 75% of your monthly income. If you still can work, you aren't suffering from any loss, you are still getting your regular income while working so it is only fair that no payout will be given.

Disability comes in many different forms, from Minor Disability such as Long Term MC (eg. during cancer treatment, chemotheraphy, one might not be able to work and will be on long term MC) to Partial and Temporarily Disabled (eg. fractured both legs from a motor accident, and hospitalised for 6 months) to Major Disability such as Partial and Permanently Disabled to TPD to one being unable to perform the ADLs (washing, dressing, feeding, toileting, mobility and transferring).

So if one is diagnosed with a cancer, it doesn't matters whether it is early or late stage cancer, as long as he or she is having treatment and is on long term MC, this plan will pay for his or her loss in income. His or her integrated shield plan will cover for the treatment cost.

Compare disability income plan with a CI plan, this plan will definitely be cheaper especially if the CI plan has a large sum assured that covers 5 to 7 of one's annual income. I am not saying that a CI plan is bad, but if one is on a budget constraint, disability income is the better plan to go for. Disability income also covers for injury resulting from accident that results in one not able to work which a CI plan doesn't cover.

Feel free to contact me (email at bio) if you are interested to find out more.

Cheers.