Lifetime

Keep in mind that when you buy disability insurance after age 50, many companies will only offer you a reduced lifetime benefit. For example, assume you bought a disability contract that would pay $3,000 monthly. If you were disabled at age 60 the contract might pay $3,000 monthly until 65 and then be reduced to $1,500 payable after 65. For disabilities starting before age 50 (this differs by contract) benefits would not be reduced after 65.

Benefit Period
Own Occupation (own occ)
Income Replacement
Integration
Step Rated Policies
Accidental Benefits

This document was last modified on July 26, 1999

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