Total Disability Benefit

Definition of "Total disability benefit"

Kevin McEwen real estate agent

Written by

Kevin McEwenelite badge icon

Weichert Realtors

Monthly income payment from a disability income insurance policy made to the insured wage earner when income has been interrupted or terminated because of illness, sickness, or accident provided the following stipulations by the wage earner have been met: total disability for the duration that the policy is in force and beyond the elimination period; and while remaining totally disabled, income payment made at the end of each month until the limits on the maximum amount of benefit are reached, at which time payments will cease.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

clause found in health insurance contracts that requires the insured to pay a specified percentage of the covered health care expenses. ...

Plan under which an employee may make a rollover contribution. If that contribution is from a qualified trust, the employee may make rollover contributions to an employer's qualified trust, ...

basic feature of the social security act under which benefits paid are associated with the employee's earnings that have been taxed during the employment period. ...

Up to 1986, arrangement to provide a personal trust while the settlor is still alive. The income is paid to named children, who enjoy lower income taxes. After 10 years and a day, the ...

Provides coverage during the construction of a bridge in the event of fire, lightning, collision, flood, rising water, windstorm, ice, explosion, and earthquake. This coverage is essential, ...

Privately formed insurance company whose objective is to make a profit. ...

Legislation that provides support for legal actions against individuals or organizations involved in systematic illegal activities. This act has been applied against insurance organizations ...

Arrangement by which the insured agrees to incur a given degree of variability in the ultimate total costs associated with financing its losses. ...

Income paid under health insurance for loss of use of various parts of the body due to an accident. A schedule of benefits available in a policy lists payments for each part of the body ...

Popular Insurance Questions