Residual Disability Income Insurance
Coverage for an individual with a residual disability. Benefits are usually payable for the unused portion of the total disability benefit period up to age 65. If an individual is at least age 55 at the time of disablement, and total disability lasts less than a year, residual benefits are payable for the unused portion of the benefit period for up to 18 months, but not beyond age 65. If there is at least a 25% loss in current earnings, the residual benefits will equal the percentage of loss times the monthly benefit for total disability.
Popular Insurance Terms
Right to insurable interest in property such as the right of a secured creditor in the property pledged as security. ...
Legislation governing wrongful acts, other than breaches of contract by one person against another or his or her property, for which civil action can be brought. Tort law and contract law ...
Excess of the value of an insurer's admitted assets over the total value of its liabilities and minimum capital requirements established by applicable statutes designed to assure the ...
Membership organization primarily of medium and small life and health insurance companies. It represents the views and interests of smaller companies in various political forums. ...
Requirement that a retired worker can have annual earnings of no more than a stipulated amount in order to receive a full retirement income under Social Security if under age 70. There is a ...
Entitlement of a participant in an employee benefit insurance plan to receive benefits regardless of his or her employment status. ...
Right of an insured to make additional purchases of life insurance without having to take a physical examination or show other evidence of insurability. Additions can be bought at stated ...
Joint profit sharing and money purchase plan that is appropriate for businesses that desire the funding flexibility of the profit sharing plan and the higher tax-deductible (25% vs. 15%) ...
Choice among the following options made by retiree prior to retirement concerning the distribution of benefits: option since all income payments cease upon the death of the retiree. Monthly ...
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