A Cost of Living Adjustment (COLA) rider is designed to help the beneficiary's
disability insurance benefits keep pace with inflation.
Not exact matches
If your appeal does not work (a more common scenario), and the insurer
keeps claiming that you are not qualified for short - term or long - term
disability benefits under the
disability test, your only recourse is to sue the
insurance company in court.
Coupled with the low threshold of income you can earn while disabled and still
keep your SSDI
benefits, and the (albeit low) possibility that your SSDI
benefits will be taxable, you may find that private
disability insurance benefits are better suited for your coverage needs.
You were injured, but the injury doesn't
keep you out of work, so your
disability insurance company won't pay you a
benefit.
When you take out a
disability insurance policy, you need to make sure the
benefit is high enough to cover your bills and loans so you can
keep up to date with them while you recover.
One thing that you'll need to
keep in mind is that
disability insurance companies may limit how long they'll pay
benefits when the policyholder is outside of the U.S. (and sometimes include Canada and Mexico), typically capping payment terms at 6 - 12 months.
If you have an extended work absence due to an injury or illness, your long term
disability insurance benefits can help protect your assets and
keep your financial house in order.
All
disability insurance policies include the waiver of premium at no cost,
keeping the policy in force while you are disabled and receiving
disability benefits.
Unlike regular term policies, return of premium term life
insurance rewards you for
keeping the policy by giving a guaranteed return of your total cumulative premium paid on the policy during the level term period, not including substandard (extra charges for health) and rider charges (extra
benefits such as
disability coverage), if any, which will be paid to the policy owner at the end of the level term period if the policy is then in force.