A. You should look for the following in a disability insurance policy:
1) How long is the elimination period (in other words, how long you have to wait before getting paid benefits)?
2) How long is the benefit period (in other words, how long does the insurance company pay you the benefits)? Common benefit periods are 2-5-10-20 years or age 65 or age 67
3) What is the rating class of your occupation (1A-5A)? The lower the number, the higher the premium.
4) How much does the benefits reduce when you become eligible for Social Security benefits (there are riders to increase that reduction)?
5) Is there any opportunity to buy additional coverage in the future without evidence of insurability?
It's best to use an experienced independent broker to find the right coverage at the best price for your unique situation. Please contact us if you need help.