How Long Does Private Disability Insurance Last?
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaYou should consider purchasing long term disability coverage to age 65, the target retirement date of most Americans. Protecting income is with long term disability insurance is only second to long term life insurance. Most American workers have 90 days of case reserves on hand. The average disability period is 31 months.Answered on July 6, 2013+01+1 this answer
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10968 POINTSview profileTim WilhoitOwner, Your Friend 4 Life, Brentwood TNA disability policy can last up to age 67 years old. However, the claim benefit period is specific to the contract you purchased. A long term disability plan can pay as little as two years after claim or again all the way to age 67. There are many caveats in a disability contract. I recommend using an experienced independent broker to navigate the maze of benefits and riders to be sure you have a solid contract that meets your goals and expectations.Answered on September 7, 2014flag this answer- 0 POINTSview profileCJ BowkerAclaro Risk Management,You coverage length options for long term disability depend on the carrier but are some combination of the following: 2 years, 5 years, 10 years, to age 65, to age 67 and/or to age 70. There is also an elimination period that must be satisfied in order for the policy to kick it. Typical elimination periods are: 30 days, 60 days, 90 days, 180 days and/or 365 days. From my experience, the most common is a 90 day elimination period with coverage to age 65/67. It is also important to note that the length of coverage of an own occupation definition of disability could be shorter than the total coverage of the policy. This is most common in group long term disability insurance.Answered on September 13, 2014flag this answer
11783 POINTSContact Meview profileLarry GilmorePROAgent Owner, Gilmore Insurance Services, Marysville, Washington StateHow long does private individual disability last? Well, a couple of ways. One way is the duration you choose when you apply for a plan. The other is the limits established by the policy which may be 65, 67 or even age 70. The big thing though is always, I mean always read the entire policy. Many plans have a 24 month exception for certain conditions. Disability language should be short and sweet. Any words after the definition of disability usually are telling you what they won't do.Answered on November 23, 2014+01+1 this answer 0flag this answerview more answers by Larry Gilmore
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