How Long Does Disability Insurance Pay?
61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaDisability insurance is sold for short term and long term coverage. Most short term coverage policies are 60 month contracts. Long term disability polices generally go to age 65. There are specialty disability companies that actually extend coverage longer than age 65. Keep in mind that most Americans also have Social Security Disability Insurance benefits as well.Answered on September 8, 2013flag this answer.JPG)
63333 POINTSview profilePeggy MaceMost of the U.S.Disability Insurance pays for as long as your plan dictates, while you are disabled. You pick a benefit length when you purchase your policy. You can buy plans that pay for a number of years, or that pay a lifetime (to age 65). If you buy a three year plan and are disabled longer than three years, the plan will stop paying three years after the disability occurred plus the days in the elimination period.Answered on September 8, 2013flag this answer
2180 POINTSview profileKelly MoserSocial Media Strategist, Disability Insurance Services, CaliforniaAlong with what Steve and Peggy mentioned, some carriers will offer 2, 5 or 10 year benefit periods, too. The smaller the benefit period, the cheaper the policy. Often times, carriers will write the policy with a smaller benefit period if the client has a medical condition, a risky profession, etc.Answered on September 9, 2013flag this answer
Did you find these answers helpful?
Yes
No
Go!
Add Your Answer To This Question
You must be logged in to add your answer.
