What are some of the disability insurance policy options and riders that may be part of my policy?
Some of the options or riders that may be part of your policy include: • Future Increase Option –This option protects future earnings by providing automatic increases to the monthly disability benefit for a certain period of time, regardless of any health changes. • Cost of Living Adjustment (COLA) Rider – After an insured has been on claim for one year, the COLA increases your benefits each year based on the increased cost of living measured by the Consumer Price Index. • Residual or Partial Disability Rider – This provision allows the insured to return to work part-time and collect a partial disability payment based on his or her loss of monthly income. If the insured is unable to perform all of his occupational duties or able to perform each duty, but for less time then he could prior to his date of disability and has suffered at least a 20 percent loss of income (compared to his average monthly income within the 12 to 26 month periods prior to his date of disability) then he is ent
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- What are some of the disability insurance policy options and riders that may be part of my policy?
