Personal disability allowance
The personal disability allowance is a payment to help pay your expenses if you are unable to work as a result of a long-term illness or disability. You may also be able to claim the allowance if you have been injured in a work-related accident. To be eligible, you must be an Australian resident, have a medical condition that has lasted or is likely to last for at least 12 months, and be unable to work due to a medical condition. If you are receiving the allowance, you must keep records of your medical expenses, income, and expenses for which you are not responsible. The Department of Human Services will review these records each year to see if you are still eligible for the allowance.
Personal disability insurance
Most people who experience a long-term illness or disability will want to protect their finances in the event that they are unable to work because of their illness. For many people, disability insurance is a good option because it provides income in addition to benefits like health insurance and dental coverage. There are two types of disability insurance: insurance that pays out a lump sum and insurance that pays out a percentage of your pre-determined income. Though disability insurance can protect your finances, it can also come with a number of challenges. If you decide that disability insurance is right for you, you will most likely have to complete a disability insurance application and submit a medical exam to be approved. Both of these steps can be very challenging, and some people decide that they would rather not deal with the process.
Personal disability insurance policy
There are many different types of disability insurance policies available to Australians. Most policies offer coverage for common medical conditions, but some policies cover rarer conditions, such as those associated with aging. Some policies may also offer coverage for specific types of disabilities, such as mental disorders or neurological diseases. Before purchasing a policy, it’s important to read the policy’s fine print. Some policies will exclude certain health issues or only include coverage for specific conditions. It’s also important to note that health issues such as pregnancy, high blood pressure, and high cholesterol can affect a person’s ability to work and qualify for disability insurance.