WV West Virginia Disability insurance pays an insured person an income when that person is unable to work because of an accident or illness. WV West Virginia Disability insurance, often called disability income insurance, is a form of insurance that insures the beneficiary's earned income against the risk that disability will make working impossible.

There are two types of disability policies: Short-Term Disability and Long-Term Disability:

Short-Term Disability policies have a waiting period of 0 to 14 days with a maximum benefit period of no longer than two years.

Long-Term Disability policies have a waiting period of several weeks to several months with a maximum benefit period ranging from a few years to the rest of your life.

Q. What is disability insurance?
A. Disability insurance pays an insured person an income when that person is unable to work because of an accident or illness. Benefits periods may depend on whether the disability was caused by an accident or illness. The longer the benefit period, the higher the premium will be. Injuries or sickness as a result of your employment may also be covered by worker's compensation.

Q. How would I pay for my living expenses if I became unable to work?
A. Disability insurance pays an insured person an income when that person is unable to work because of an accident or illness.

Q. What is disability income protection insurance?
A. Disability income protection is designed to replace the income lost as a result of disability from illness or accident by protecting your earnings and your earning potential - perhaps your most valuable asset.

Q. Do disability policies cover both accident and sickness?
A. No. Policies are available to cover disability due to an accident only or due to either accident or illness. It could be wallet-wrenching if your policy differentiates between accident and sickness.

Q. Why should you take out disability income protection insurance?
A. To guarantee income continually in the event of sickness or accident. To avoid a company having to fund the continuing salary for a disabled employee longer than may be otherwise desirable. To pay the expenses of the business which would continue to be payable in the event of a principal owners disability.

Q. What Are Your Chances For Long-term Income Loss?
A. Unfortunately anyone can get sick or have an accident. Life is unpredictable, but it does allow preparedness. Today now more than ever, lives are saved from premature death caused by accidents or sickness. This causes an increase number of survivors that live on, but with impairments or limitations that mean they can't perform the major duties of their own occupation. In short, they lose their current income, but not their life.

Q. Your Personal Savings May Not Be Enough?
A. If you're like most people, you have maybe two months income as savings in the bank as a protection against emergencies. Yet the average long-term loss of income due to disability is 5 1/2 years. Even if you save ten percent of your income for ten years, it may take only one year of mortgage payments and meeting other bills to deplete your savings completely.