Atlanta planner Rob Moody says these are the most important issues to consider when evaluating disability policies:
1.The financial strength of the insurance company.
2.Whether benefits are tax-free.
3.The length of the waiting period.
4.Whether benefits will be reduced by other income.
5.The definition of disability.
6.The length of time benefits are payable.
7.Whether there are cost of living adjustments.
8.Whether there are residual benefits.
9.Whether benefit levels can be increased.
10.The policy’s limitations and exclusions.
11.Whether there are premium waivers.