Disability Income Insurance

Question 1

Short Term disability

Answer 1

0-2 years

Question 2

Long term disability

Answer 2

2 or more years up to 65 and paid on a 30 day basis

Question 3

Elimination Period

Answer 3

The deductible for disability insurance

Length of elimination period determines premium

Question 4

Coordination of Benefits

Answer 4

Determines which insurance is primary and secondary etc. so that insured is not over paid on a claim

Question 5

Individual Disability Policies

Answer 5

Paid with after tax dollars and benefits are received tax free