Residual Disability Income Insurance
Coverage for an individual with a residual disability. Benefits are usually payable for the unused portion of the total disability benefit period up to age 65. If an individual is at least age 55 at the time of disablement, and total disability lasts less than a year, residual benefits are payable for the unused portion of the benefit period for up to 18 months, but not beyond age 65. If there is at least a 25% loss in current earnings, the residual benefits will equal the percentage of loss times the monthly benefit for total disability.
Popular Insurance Terms
Benefit in disability income insurance whereby an injured or ill wage earner receives a monthly income payment to replace a percentage of his or her lost earnings. ...
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Type of endowment insurance that matures at a stipulated retirement age and whose purpose is to provide retirement income to the insured. ...
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