DISABILITY INSURANCE CHECKLIST

• How does the insurance company define a disability in the policy?
  
• What kind of coverage is it - "own occupation," "regular occupation," or "any occupation?" What is the difference in coverage and cost for each?
  
• What type of insurance is it - non-cancelable, guaranteed renewable, or commercial disability? What does that mean?
  
• How long and when are benefits payable?
  
• How much of my current salary will the policy pay? Are the benefits indexed to inflation?
  
• Are there any limitations or restrictions on the policy that I should be aware of?
  
• What is the waiting period before I can claim benefits? How much money can I save on my premiums by extending the waiting period?
  
• If I go back to work and then suffer a relapse, what is the waiting period before I can claim benefits again?
  
• If I go back to work part-time, can I receive partial/residual benefits? Is the waiting period any different than for full benefits? Are there any restrictions?
  
• Can I increase my coverage at any time? Do I need another medical examination to do so?