A broker that sets up high-end income protection programs has updated the way its plans treat insureds who suffer from two or more successive periods of disability.
Petersen International Underwriters Inc., Valencia, Calif., says the change affects insureds who may qualify for either total or residual disability.
Now, if an insured suffers from two or more long, successive periods of disability, those periods can be combined to help the individual get through the plan elimination period.
For the plan to combine the periods for elimination period purposes, the “periods must be due to the same or a related cause, and must not be separated by a period longer than the Elimination Period or 6 months, whichever is less,” Petersen International says. “The Elimination Period as stated in the policy begins on the first day the person is attended by a physician who determines he/she is totally or residually disabled.”