What is Temporary Total Disability (TTD) Cover?

2024-08-19

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What is a Temporary Total Disability(TTD)?

Temporary total disability refers to injuries or illness that affects an individual completely but for a short or temporary period. Temporary total disability covers offer benefits to the Life Assured or policyholder in case they witness such a situation. There are a few term insurance plans that offer this protection if you choose the riders.

For example:

A recoverable loss of two or more limbs.
Fracture of both hands and both legs.
Fracture in one hand and one leg.

Disabilities in this case are usually recoverable within a short period, usually less than a year.

FAQs

As the name suggests, whole life insurance is a type of life insurance in which the insured is protected for their entire life. Generally, the plans offer coverage up to 99 years of age. It helps the insured financially protect their loved ones in case of any unfortunate event.

Everyone should buy life insurance as it financially protects their loved ones and dependents in case of their unfortunate demise. It helps the family of the deceased in various ways, such as paying for loans, securing their children’s future and more. It acts as an income replacement.

Surrender value refers to the amount that the life insurance company has to pay when a policyholder wishes to surrender the policy in between the policy tenure. The amount varies depending on how far you are into your policy. There are two types of surrender value in life insurance, i.e. Guaranteed Surrender Value and Special Surrender Value.

Life insurance offers the policy nominees a sum assured if the policyholder dies, provided the premiums are paid on time, and the policy is active. A contract is formed between the policyholder and the insurance company, entailing details such as the sum assured, premiums, frequency, policy tenure, nominee details, etc. These details are mutually agreed upon and calculated considering the need, a

Every person has varied needs and wants. The best life insurance offers plans to provide financial security according to these needs and wants. There are many life products available in the market to cater to the needs of every individual. It is important to note that not all life insurance is suitable for you and your family’s needs.

Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.

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