Health Insurance - Top Ten Questions
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Disability Income Insurance
- Are there any coverages or benefits available to cover my income losses due to disability?
- How do other coverages or benefits available to me affect the amount of disability income insurance necessary to cover my income losses?
- Is there disability income coverage available from a group source such as an employer where the group policyholder might contribute to the premium or must I purchase individual disability income coverage and pay for it myself?
- What is the difference between short term disabilities, long term disabilities, total and reduced/partial disabilities? Can I purchase disability income coverages necessary to cover all of these types of disabilities?
- What is the effect of my current or past medical conditions on obtaining individual disability income coverage?
- Can the insurer apply a pre-existing limitation to the coverage?
- What are the renewal provisions? Is the coverage “guaranteed renewable” and/or “non-cancelable” to age 65 or Social Security retirement?
- Is coverage portable when changing jobs?
- What are the premium rates the various disability income insurers charge considering my age, medical condition, occupational classification and length of time (benefit period) benefits are to be paid?
- What is an elimination period, and how does it affect my coverage?