Content Overview
- Summary
- Pre-Existing Condition Provisions
- Premiums
- Elimination Period (Also Known As "Waiting Period")
- Definition of Total Disability
- Partial Disability
- Recurring Disabilities Provision
- Benefit Amount
- Maximum Benefit Period
- Survivor Benefit
- Mental And Nervous Limitation
- Exclusions And Limitations
- Rehabilitative Training Or Employment
- Waiver Of Premium
- Riders: Guaranteed Insurability, Social Security Offset, Cost Of Living
- Renewal Terms
- Insurance Company Financial Situation
- Taxation of Benefits
Disability Insurance: Long Term: Individual
Insurance Company Financial Situation
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It doesn't do you any good to purchase a Disability Insurance policy if the insurer won't be able to pay the benefit, or if it goes out of business.
You can check the company's financial situation through third party rating agencies such as AM Best (www.ambest.com ), Standard and Poor's (www.standardandpoors.com ) or TheStreet.com (www.TheStreet.com/ratings ) formerly Weiss Ratings.
Check with your state insurance department to find out whether there have been complaints about the company, and if so, what they are. For contact information for your state agency, see: www.naic.org .
Also check to see what, if anything, is known about the company at your local Better Business Bureau. For contact information, see: www.bbb.org .
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