Specialist, LTCi, DI, Annuities, Life, Designs In Life, LLC, Utah
Yes. And, they can be from different carriers, although I recommend that for convenience sake that they be from the same carrier, if possible. If you go on claim, you might have double the paperwork with two, separate carriers.
It often happens, for example, that one be covered by a group plan at work and yet still not have up to 2/3 of income insured against disability. The maximum monthly benefit allowable on the group plan and any other voluntary employee DI benefits one can buy might not stretch to reach that goal. (The total amount of income replacement from all coverage usually cannot exceed 2/3 of income.) Often, the provider of the group plan of insurance also writes coverage for individuals. An individually-owned supplemental policy can “wrap around” the group coverage. If the group carrier doesn’t write individual policies, however, most any good DI carrier provides such additional coverage.
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It often happens, for example, that one be covered by a group plan at work and yet still not have up to 2/3 of income insured against disability. The maximum monthly benefit allowable on the group plan and any other voluntary employee DI benefits one can buy might not stretch to reach that goal. (The total amount of income replacement from all coverage usually cannot exceed 2/3 of income.) Often, the provider of the group plan of insurance also writes coverage for individuals. An individually-owned supplemental policy can “wrap around” the group coverage. If the group carrier doesn’t write individual policies, however, most any good DI carrier provides such additional coverage.