Disability Insurance

2. others pay only if you can’t work at any occupation for which you’re reasonably qualified.
3. It means your policy can’t be cancelled as long as the premiums are paid. Premiums can be raised for an entire class of policyholders but not for reasons related to your individual circumstances.
4. The waiting period before benefits kick in.
6. The inability, due to illness or accident, to perform all or some portion of one’s
7. level / Disability policies usually pay up to 40% to two-thirds of your pre-disability earnings at the time of purchase for a specified period of time.
8. These policies typically provide benefits for 13, 26, or 52 weeks.
12. Insurance that pays the policyholder a percentage of his/her income for a set period of time, if the person is unable to work due to a disabling injury or illness.
13. as premiums are paid, and premiums are guaranteed not to increase.
14. A cost-of-living adjustment to a policy that increases by a specified percentage after each year of disability. Though an expensive add-on, this option can be vital to maintaining your standard of living if you’re out of work for a long period of time.

1. Typically provides income payments that continue for many months, years, up to age 65, or until the insured person is able to return to work.
5. resulting in a loss of income.
9. Some policies pay if you’re unable to perform the duties of your own
10. These policies can never be cancelled as
11. Some policies pay only if you are totally disabled. Others cover partial disability for a limited time, but only when it follows a period of total disability for the same cause.