It is important
to take into consideration that every disability
income policy may have different features. The following
checklist will help you compare your current policies
or one you may be considering:
1. How is disability defined?
Inability to perform your own job? Inability
to perform any job? |
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2. Does the policy cover
accidents? Illness? Injuries? |
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3. Are benefits available
for total disability? For partial disability?
For residual disability? Only after total disability? |
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4. Are full benefits paid, whether or not you
are able to work for loss of sight? Speech? Hearing?
Use of Limbs? |
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5. The maximum benefit will replace what percentage
of income? |
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6. Is the policy non-cancelable, guaranteed
renewable, or conditionally renewable? |
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7. How long must I be disable before premiums
are waived? |
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8. How long will you continue to receive benefits
after you are disabled? |
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9. How many days must you be disabled before
you can receive benefits? |
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10. Does the policy offer an inflation adjustment
feature? If so, what is the percentage rate of
increase? Is there a maximum? |
