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Multiple Sclerosis Disability Insurance

Multiple sclerosis is a chronic progressive disease that can force your untimely retirement. If this disease befalls you, you have to think about possible ways to compensate for the income you lose together with your job. Disability Insurance is designed to cover the potential situation when you are diagnosed with multiple sclerosis and you can no longer work.

It is perfectly reasonable to think about obtaining sufficient disability coverage even if you have not been diagnosed with multiple sclerosis. Because in case you are diagnosed with it, Disability Insurance often becomes unavailable as it is a pre-existing condition.

There are two basic types of Disability Insurance for people suffering from multiple sclerosis. Multiple Sclerosis Disability Insurance usually indemnifies about 60 percent of your income for the first year and then provides you with fixed benefits in case you are unable to do any kind of work.

Social Security Disability Insurance is a government program which provides you with monetary compensation for your disability. The amount of this compensation is based on the Social Security taxes you have paid during your working life. The benefits offered under the contract of this type usually do not amount to your wages, but they partly reimburse your healthcare expenses.