What are the elimination period and COLA rider?

There are a lot of moving parts to a disability policy, and this tends to lead to a lot of questions about what is covered and when. How long after a disability do benefits begin? What happens if you are disabled for a long time and prices of goods steadily climb? These are some of the factors that can have a tremendous impact on your financial future.

In this episode, Billy discusses how to choose the proper elimination period, how to protect your policy from inflation, and why it sometimes makes the most financial sense to select the more expensive benefit when you first get your policy.

Highlights from this episode include:

• How to save even more money while still getting great disability coverage (1:16)
• The most financially sensible amount of time to wait before your policy pays you (2:17)
• The optional coverage that protects your policy from the devastating effects of inflation (3:56)
• How you can adjust your policy to match your needs as they change over time (6:30)
• Do this now to prevent the insurance company from denying you coverage when you need it most (7:15)

To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.