October 10, 2008, Newsletter Issue #29: Presumptive Disability Explained

Tip of the Week

Presumptive disability is another insurance term that has a specific definition of total disability. If certain events occur, even if they result in only a temporary disability, you are assumed to be eligible for monthly income benefits. Should one or more of these events result in temporary or permanent partial disability, you still may be eligible for disability retirement benefits. Here are the more common definitions of a presumptive disability.

Loss of sight. Loss of speech. Loss of hearing. Loss of the use of two or more limbs. This provision is included in many standard disability insurance policies. It is often not an extra cost benefit. There may be a difference in one or more definitions, which can range from total, permanent, irrevocable, and/or partial disability. The benefit level or term may be affected by the interpretation of these definitions. Many presumptive disability policies allow benefits to begin immediately, waiving the standard elimination (waiting) period in many cases. In some cases, applying for partial disability could pose a problem. Examine the language in your current or prospective coverage to learn how presumptive disability applies to you.

Refer to your insurance policy contract for specific information regarding your coverage and for actual terms, conditions and exclusions. The above statements are general in nature and may or may not reflect the actual terms of your insurance policy.

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