• Disability policy is simply called as income replacement. It is not an insurance policy. The income replacement policy gives employer to continue to pay the salary for some period of time to disabled for more than six months until you are eligible for Social Security coverage.
• The underwriting procedure needs the disability insurance for 6-8 weeks time for evaluation. Under underwriting process it evaluate the standard of living, financial documents, medical exam results, and your physician's records and physical appraisal of the insurer.
• The disability insurance also covers medical exam like blood test and urine examination, BP reading, height and weight, EKG depends on the insurance. The medical exam takes 30 minutes and is carried out by a licensed doctor.
• In disability agreement you are not suppose to cancel the contract so it is called as "non-cancelable" agreement. In such types of agreement even rates are not changes. The policy get continue until you pay a premium on time.
• The waiting period depends on individual choice. The waiting periods are 30, 60, 90, 180, 365, 730 days.
The time period depends on individual choice. You must have to select two years to till the retirement age. Normally the longer the period the premium will be higher. The benefits are directly related to your premium. If your benefits get higher than the premium is naturally get increases.
