Frequently Asked Questions
Disability insurance protects individuals who are no longer able to work from loss of income.
Temporary Total Disability insurance (TTD) is a plan that allows the insured who becomes disabled due to injury or illness to receive up to 60% of their income. This is up to USD 20,000 per month for up to 120 months, on a tax-free basis.
Permanent Total Disability (PTD) insurance provides a maximum of 5 times annual salary or USD 750,000 -- whichever is lower. Permanent disability is for individuals who will never be able to do work of any kind due to injury or illness.
Anyone who works can qualify for disability insurance. Age limits apply.
TTD can be purchased up to age 64. Benefit periods decrease after age 60, with the maximum benefit period at age 63 being 12 months.
PTD is available to individuals under 62 years of age. The policy covers disabled individuals due to injury or illness.
Benefits are calculated based on gross monthly income. You can choose coverage period and waiting period based on disability insurance needs.
Benefits are paid directly into the insured’s account. For TTD policies, monthly payments will be issued. For PTD policies, a lump sum payment will be issued. If you have opted for both PTD and TTD benefits, PTD will be paid upon exhaustion of the TTD benefit.
The insured remains eligible to receive disability benefits while working at a different job, as long as it is a different profession than the one listed in the accepted disability insurance application. Moving or a change of address does not affect benefits disbursements so long as bank account information is current.
The benefit period is determined on the type of disability insurance selected. For TTD policies, the benefit period can last up to 120 consecutive months. PTD benefits are paid out as a lump sum.
The insured’s spouse will not receive benefits after the insured’s death. We recommend pairing Disability coverage with Term Life insurance to safeguard your family against this type of situation.
Yes. This time period is referred to as the Elimination Period. The Elimination Period is defined as the time between the moment the insured sustains an eligible disability injury or illness and the time the insured begins to receive benefits. The duration of an Elimination Period is determined by the insurance policy.
Any condition for which a person would have or should have sought treatment in the 30 months prior to the effective date of the policy is excluded.
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