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Disability Income Insurance: Individual: 101

Maximum Benefit Period

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Disability income policies limit the amount of time income will be paid. Individual plans can be purchased with benefit periods ranging from one year to policies which provide an income until age 65.

Most plans limit the Benefit Period if the disability is due to a mental or nervous disorder, typically to a maximum of 24 months. NOTE: If your illness is not a mental disorder, but there are some mental symptoms such as short term memory loss, disorientation, even dementia due to either the disease or medication, make sure the doctor is clear in his or her statements about your symptoms so the insurance company won’t try to impose a two year limit on benefits.

Many plans, even plans that pay benefits to age 65, will reduce the benefit period if you become disabled after turning age 60. Many will pay benefits for only two years in such cases.

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