Disability Insurance

A long-term disability insurance plan will offer an income benefit of approximately 60% of your monthly income.  Each plan is tailored to your specific occupation, income, as well as personal health.  Disability insurance coverage through an employer will also affect individual plan benefit qualifications.  Depending on your occupation, plans may offer several options at the time of application.

Additional information is necessary to assist in choosing a long-term disability plan, please call to discuss the particulars regarding a quote for disability insurance plans and the best available riders for your occupation.

Terms you should know:

Benefit Period:  The maximum time you will receive benefits if you become disabled.  Usual choices are – 2 years, 3 years, and 5 years, To Age 65 or To Age 67.  Occupation may limit choices.

Elimination Period:  The “waiting period” after you become disabled and before you become eligible for benefits.  Usual choices are - 60 Days, 90 Days, 180 Days and 365 Days.  Occupation may limit choices.

Other Terms (actual definition may differ among carriers, occupation and contract):

  • 2-Year Own Occupation
  • Long Term Income Protection
  • Residual
  • Partial Disability
  • Waiver of Premium
  • Pre-existing Condition
  • Exclusions

Optional Benefit/Riders:

  • Cost of Living Adjustments (COLA)
  • Social Insurance Substitute (SIS)
  • Future Income Option (FIO)

This is a very general summary of disability insurance plans.  Insurance contracts can vary greatly from insurance company to insurance company.