About Disability Insurance - Definitions
- Gainful Employment:
- This program may be at our request or yours and is based on mutual agreement.
- Residual Disability:
- You can Receive a Partial Disability Benefit if your disability causes you to lose 20% or more of your Disability
- Residual Recovery Benefit:
- You can also select the Residual Recovery Benefit which will allow you continue receiving benefits for up to 24 or 36 months, if you continue to experience an earnings loss of at least 20% after returning to full-time work.
- Cost of Living Adjustment:
- To help your benefits keep pace with inflation, this option automatically increases your benefit annually (while you remain disabled), after you have been disabled for 12 months. Increases are compounded and equal 1 to 7% (tied to the consumer price index) of your adjusted monthly benefit.
After you have returned to work, you can "Buy-Up" to a higher monthly benefit by purchasing the extra benefit that accrued during your beneift. - Guaranteed Insurability Benefit:
- With this option, you can purchase additional coverage every year up to age 51- without additional medical underwriting. The amount your coverave can be increased is based on how large an increase option you purhcased and our financial underwriting rules..
How much Coverage do I need?
Estimate Current Monthly Business Overhead Expenses - if you own or manage a business - go here to calculate these costs.
Estimate Current Monthly Household Expenses