The New Life Insurance: A look at the Disability Income Rider
Life insurance has come a long way over the years — and now, you don’t need to die to use the benefits from your policy. Life insurance policies have enhanced benefits you can add to your policy called riders. These riders are added for an additional cost, but in combination with your death benefit, these can be very affordable!
A Closer Look at the Disability Income Rider
There are two riders for Disability Income that you can add to your policy (in most states): a Monthly Disability Income Rider and the Accident Only Disability Income Rider.
The Monthly Disability Income Rider
The Monthly Disability Income Rider provides a monthly benefit, after the elimination period, if the insured becomes totally disabled prior to the insured’s 65th birthday. “Total disability” is a condition due to injury or sickness which keeps the insured from doing the important, substantial, and material duties of their own occupation and requires a physician’s care unless the insured has reached the maximum point of recovery.
Monthly Benefit Amount
The Accidental Disability Income Rider
This rider provides a monthly benefit while the insured is totally disabled, up to a maximum of two years. Benefits are not payable unless the total disability is the result of an accidental injury that begins within 180 days of the injury and prior to the insured’s 65th birthday. Benefits are not payable until after the insured has been continuously totally disabled for 90 days.
Same Benefit Limits Apply
How Do I Add These to My Policy?
Before you apply and are approved for coverage, you need to start a quote. Once you create your quote, simply add the rider you would like and the rate will automatically adjust. You can add and adjust the riders until you have everything the way you want it, then apply. Our instant decision process allows you to quote, customize, and buy life insurance — including Disability Income Riders — in minutes!
