Disability Insurance Common Questions (FAQ)

Q. When would I become eligible to receive income protection benefits?
A. You choose when you would like benefits to begin. The most popular elimination periods are 30, 60, 90, or 180 days.

Q. How long will my benefits last?
A. Your benefits can last 6 months, 1 year, 2 years, 5 years, 10 years, to age 65 or even lifetime, based on your occupation needs and company.

Q. Are my benefits paid to me in addition to Worker's Compensation or Social Security?
A. Yes, the base policy benefits are paid directly to you. They are not reduced by the Worker's Compensation or Social Security benefits you may be eligible for. If you choose the optional integrated Monthly Benefit Rider, those benefits are coordinated with Worker's Compensation and Social Security

Q. What is the premium for this important protection?
A. The average cost is usually 2% - 3% of your annual income. But you can adjust the premium to fit your needs based on the elimination period, benefit period and monthly benefit you choose.

Q. If I never use my coverage, will I get any of my premiums back?
A. Yes. A very valuable rider is available, the Surrender Value Rider* (SVR), which returns all your premiums at age 65, less any claims. Availability of rider depends on the company.

Q. How do I obtain my own income protection plan?
A. #1 Insurance Quotes Life Disability Insurance will help you design an income protection program that best fits your needs. We will help you find the right company, policy, and price.