Benefit Period

Many people have a difficult time deciding for how long a benefit period to buy. Obviously, the longer the potential disability benefit, the more costly the disability insurance. If you are near 65 and have prepared financially for retirement, a short benefit period would be in order. If you are young and have not developed much net worth, a lifetime benefit should be strongly considered. The reason for this is simple. If you have a career ending disability in your 30s, the corresponding reduction in income would prevent you from building up your pension benefits, other assets, or even Social Security benefits.

Lifetime
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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