Income Insurance Glossary
you understand Disability Insurance, we have provided you with a general
explanation of some frequently used terms. Note that the exact definitions
of these terms can vary from company to company. Always consult your
agent for the meaning of the terms applicable to your policy.Accidental
Death and Dismemberment
(AD & D)
Policy or provision in a Disability Income policy that pays a specified
amount or a multiple of the weekly disability benefit should the insured
die, lose his sight, or lose two limbs as the result of an accident.
Lesser amount is payable for the loss of one eye, arm, leg, hand,
Maximum amount a person is entitled to receive for particular services
as described in the contract with insurer or health plan.
of Living Benefit
Optional disability benefit where monthly benefit is increased annually
once insured is on claim for 12 months.
A condition due to sickness or injury that curtails a person's ability
to carry on normal pursuits. A disability may be partial or total,
and temporary or permanent as verified by a doctor.
(1) Period of time during which potential members of a Group program
may enroll without providing evidence of insurability. (2) Period
of time under Major Medical policy during which reimbursable expenses
may be accrued.
Group Disability Insurance
Coverage provided for a group for loss of compensation due to accident
Long-Term Disability Income Insurance
Long-term Disability Income Insurance is designed to provide benefits
for a long duration such as 2 years, 5 years, or in some cases up
to age 65. The elimination period for this policy is usually 90 or
Permanent and Total Disability
Total disability from which the insured does not recover.
An amendment to an insurance policy that modifies the policy by expanding
or restricting its benefits or excluding certain conditions from coverage.
Short Term Disability Insurance
Group or individual policy written to cover disabilities of 13 or
26 weeks duration. However coverage for as long as two years is not
Degree of disability from injury or sickness preventing the insured
from performing the duties of any occupation for remuneration or profit.
Definition in each specific case depends on the wording in the covering
more now, please click here.
a Quote| Annuity Quote|Mortgage
Annuity Rates| Call
Me Back| Site Map
Licensing and Copyright
Financial specializes in the Insurance, and Estate Planning Services
Life Insurance, Long Term Care Insurance, Family Planning, Term Life
Insurance, Whole Life, Annuities, IRA, Retirement Planning, Smoker Life
Insurance, Disability Income Insurance, High Risk Life Insurance, Mortgage
Insurance, Indexed Annuities, Universal Life, Fixed Annuities, 412i,
401 (k), Business Planning, Indexed Life
©1999 - ©2008 RubyGold Financial LLC All Rights Reserved