Disability Income (di)
Definition of "Disability income (di)"
Life insurance payment issued after the insured has been disabled for at least six months. One percent of the face value of the policy is paid the insured as a monthly income benefit and premiums are waived for the duration of the disability. A disability income rider can be attached to an ordinary life insurance policy to provide this disability income benefit at extra charge. The insured can have a wavier of premium benefit without a disability income benefit, but cannot have the disability income benefit without the waiver of premiums benefit.
Popular Insurance Terms
Average interest earned by an insurer on its investments after investment expense, but before federal income tax. ...
Part of the Balanced Budget Act of 1997 that permits medicare recipients to select coverage among various private health care plans to include HMOS, PPOS, POINT-of-SERVICE (POS), MEDICAL ...
Life insurance that pays the balance of a mortgage if the mortgagor (insured) dies. Coverage is usually in the form of decreasing term insurance, with the amount of coverage decreasing as ...
Individual who retains title to property that is being transferred on a temporary basis to the care, custody, and/or control of another. ...
Rate of return computed by dividing the current annual dividend (if a stock) or annual coupon amount (if a bond) by the amount paid for that financial instrument. ...
Utilization of life insurance to make annual gifts into a trust in order to produce the largest tax-free death benefit possible to the trust beneficiaries. ...
Death from other than accidental means. ...
Amendment to a will that adds or modifies clauses in that will, such as adding an additional beneficiary or piece of property. ...
Bureau insurer that files its statistical and underwriting experience with a rating bureau. ...
Have a question or comment?
We're here to help.