Sentences with phrase «loan disability rider»
In this case, for a small addition to your monthly premium, a student loan disability rider adds on coverage to the benefit amount that goes toward student loan payments.
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To help guard against the risk of default, some disability income insurance providers offer an optional student loan rider to help young professionals make their loan payments for a fixed number of years (often 10 or 15 years) in the event they should become temporarily disabled.
Available riders include Disability Waiver of Premium, Children's Term, Living Benefits Rider, and an automatic premium loan option which can take a small loan from the policy to keep it in force when payments are missed.
A student loan protection rider sets aside part of the disability benefit to specifically go to your student loan lender.
A disability insurance rider can do anything from making your premiums guaranteed (non-cancelable riders) to paying off your student loans (student loan riders).
This plan also has other features like loan facility, 15 - day free look period and options for riders like total & permanent disability cover, accidental death benefit, critical illness and likewise.
A student loan protection rider and disability benefit rider is available.
The plan comes with other features like 15 - day free look period, loan facility, and option to choose riders like accidental death benefit, total and permanent disability cover, critical and so on.