You know that you need a disability insurance policy, but what happens if you become partially disabled. Depending on your policy, you might not get paid a benefit at all if you can do a certain percentage of your required work. This leaves you unable to fully do your job (and get paid) and unable to claim disability benefits.
This is where the residual benefit rider becomes critically important. But you have to have an agent that understands exactly how this works.
In this episode, Billy discusses this additional benefit, how to ensure your policy has it, and a little known benefit related to this that you must have.
Highlights from this episode include:
- How the residual benefit prevents a financial tragedy when your policy wouldn’t pay otherwise (2:35)
- The devil is in the details, and why you need to fully understand policy definitions, or you could be paying for a policy that will never pay you (2:58)
- The rare but vital benefit that saves you from having to return to work before you’re physically capable of doing your specialty (3:09)
- How insurance companies may include a residual benefit, but still screw you out of the coverage when you need it most (5:45)
To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.