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Policy feature questions related to disability insurance

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Are you in the market for an individual disability insurance policy? Are you interested in buying group coverage? Either way, you need to know what this type of insurance can do for you.

The best way to understand your situation is to answer a few key questions. By doing so you will soon realize where you stand, what should come next, and how to ensure that you get the best coverage in place.

These questions are all related to policy features:

-- What benefit amount is best for somebody in your position?

-- What is the benefit period?

-- What is the elimination period?

-- Which features of a disability insurance policy are most important?

-- Are you able to receive disability insurance along with government benefits, such as Social Security or workers' compensation?

It is not always easy to answer these questions, but you need to dig up as much information as possible. The answers will go a long way in helping you purchase the right policy at the right time.

Note: no two people are in the same position, so you need to review your personal circumstances before making a final purchase.

When you answer the right questions related to disability insurance policy features, you will feel better about your ability to implement the best coverage.

It is your hope that you never have to make a disability insurance claim, but you don't know what the future holds. If you make a claim and find that it gets denied, review your policy to learn more about the appeals process. You don't want to miss out on money that is due to you.

Source: Policy Genius, "LTD Insurance FAQ," accessed July 04, 2016

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