Tips and Traps: Supplemental Long Term Disability Insurance?
May 6, 2014 11:50 AM Subscribe
I have some long-term disability insurance through my employer. I'm thinking I'd like to supplement this with some additional LTD insurance I buy on my own. I have a couple of quotes from highly rated insurers through a broker I like. What should I be looking for when comparing these quotes?
posted by Admiral Haddock to Work & Money (2 answers total) 5 users marked this as a favorite
For example, I know about the difference between own occupation and any occupation policies; COLA adjustments for benefits; riders that allow me to increase the coverage amount for future raises, etc., and policies that would allow me to "double-dip" if I were claiming disability, but wanted to do some work I was still capable of doing. But those are the kinds of details and considerations I'd like to hear about--as you might imagine, I had no idea about any of that before I started this process.
What's the scoop? What are the traps for the unwary? Are there insurers you've liked/hated?