Disability insurance has become more important for women than for males for a variety of reasons, but the primary one is that insurance companies are more likely to pay claims for women and to do so considerably earlier in life.
Insurance firms have shown that women are more likely than males to seek medical attention. In addition, women are more likely to get payments on claims for a longer length of time. Men’s life expectancies are also shorter than women’s (that is why women get better rates than men when it comes to Life Insurance).
The Effects of Disability on a Family’s Budget
The first is the financial hardship that a handicap may bring about. According to research by an American college, more than 50% of female doctors think that if they become incapacitated, the effect on the family’s finances would be catastrophic and they would not have enough cash …