What is Long Term Care / Disability Insurance?

• To ease your financial burden, it payouts a monthly sum  to replace part of the income you would lose if you are not able to work as a result of an accident or illness 
• Some policies define disability as not being able to perform your usual work, while others define it as not being able to do any work at all 
• There may be a deferment period of time during which nothing is payable from the policy. Payment usually starts after you have been continuously disabled for longer than the deferment period. Payment stops once you are able to work again or it may be reduced in proportion to the recovery you are making
• Disability insurance does not have any cash / surrender value
• Certain Long Term care insurance can use medisave to enhance for a higher coverage and payout