Individual Disability Insurance

Our Non-Impaired Individual Disability Insurance

  • The most financially valuable asset everyone has is their ability to earn an income and when this is put in jeopardy one's quality of life overall is threatened. The role that disability insurance plays in securing this wellbeing cannot be understated. For this reason, all individuals of any income level should be able to secure coverage of 60 to 70% income replacement. Some of the greatest challenges' clients can face in obtaining appropriate levels of coverage is the conservative restrictions and limited benefit levels found in traditional markets. These constraints often leave high earners and clients with unique risk profiles at a coverage deficit. In order to give these individuals an option outside of self-insuring, IDU creatively underwrites and issues High-Limit Personal Income Disability Protection.

  • Domestic Shortfalls

    • High Net Worth
    • Ages above 65
    • Low Limits
    • High Risk Avocations
  • Target Markets

    • White Collar Professionals
    • Gray Collar Occupations
    • Attorneys
    • Accountants
    • Architects
    • Financial Professions
    • Information Technology (IT)
  • Key Features

    • Policy Terms up to 5 years
    • Ages above 65
    • Available Benefits Structures
      • Monthly Benefit
      • Lump Sum Benefit
      • Combination Monthly + Lump Sums
    • Own Occupation Definition of Disability
    • Elimination Periods: 90 to 365 days or longer
    • Limits up to 10x Income
    • Monthly Benefit Periods: 12, 24 & 36 months
    • Covered forms of compensation
      • Salary
      • Bonus/Commissions
      • K-1 Income
      • Restricted Stock Awards
    • Flexible Premium Payment Options
    • Creative Underwriting Techniques
    • Waiver of Premium
    • Transplant Benefit
    • Survivorship Benefit
    • Recovery Benefit
    • Available Riders
      • Residual
      • COLA
      • CAT
  • Definition Details

    • Term of Insurance: is the time period where the policy cannot be cancelled. Neither the terms nor policy can be altered by the carrier, provided the premium is paid on time.

    • Elimination Period: defined as the period of time for which the Insured must be continuously disabled before the benefits are payable. There are many options for EP.

    • Benefit Period: is the number of months that benefits are payable to during a period of disability. IDU can offer both a monthly, lump sum or combination benefit periods.

    • Loss of Payee: All disability benefits from the policy will be paid to the designated Beneficiary.

    • Policy Owner: Generally, the Insured on the Schedule. If otherwise, the person who applies for insurance in conjunction with or on behalf of the Insured. At all times there must be a valid insurable obligation/interest between the owner and Insured.

    • New Term of Insurance: May be allowed or offered at expiration of previous policy, subject to underwriting.

    • Premium Mode: Premium payments are to be paid on a monthly, semi-annual, annual or single premium basis.

    • Grace Period: IDU's grace period will allow a period of thirty-one days for the payment of each premium due.

    • Waiver of Premium: Following the initial payment and if any unforeseen injury or illness occurs where the client becomes totally disabled and has satisfied the elimination period, the policy will waive future premium as long as the definition of disability is met.

    • Own Occupation: Insured is unable to perform the substantial & material duties of their occupation.

    • Presumptive Disability: For Monthly Benefits payable the Insured is presumed Totally Disabled and Elimination Period waived if as a direct result of an injury or sickness that occurs during the policy term and causes irrecoverable loss of: ability to speak or hear, sight of both eyes, use of both hands or feet or one hand and one foot.

    • Transplant Benefit: If, after policy has been inforce for 6 months, the Insured gives part of their body to another, the condition will be deemed a Sickness and Disability Benefits paid in same way as any other Sickness.

    • Recovery Benefit: If, within 90 days of returning to work full time with no loss of Duties, the insured experiences a loss of income of at least 25% solely as a result of the Sickness or Injury that caused the prior claim, a one-time recovery benefit of 3 times the Monthly Benefit is paid.

    • Survivorship Benefit: If you die while collecting Disability benefits, we will pay a lump sum equivalent to three (3) months' worth of current benefit payable to the named beneficiary or estate.

    • Residual: If while working in your occupation you suffer a loss of at least 25% of income accompanied by either an inability to do one or more of your substantial duties or ability to perform all of your duties but for less time than is usually required then an equivalent percentage of the Monthly Benefit is paid. Payments will proceed until no longer residually disabled or the benefit period is exhausted, whichever the sooner.

    • COLA: After 12 months of continuous monthly disability payments there will be an increase of 3% on the monthly benefit amount beginning the 13th month and continuing annually thereafter until benefits are exhausted or disability ends. Should the policy include a Lump Sum benefit there is also the option to instead add 5% of the monthly benefit amount onto the Lump Sum total, this must be chosen prior to the 13th month of benefit payouts. Either option is available for each year but must be selected before payment has been made.

    • CAT: If as a result of a covered Injury or Sickness, the Insured is totally unable to accomplish any 2 of the 6 Activities of Daily living - bathing, dressing, eating, continence, toileting, and transferring - then a benefit of 25% of your total Monthly Benefit up to $10,000 will be paid on a monthly basis until the benefit period is exhausted.

  • Monthly Benefit Overview

    Once the Elimination Period has been satisfied, the monthly benefits will begin and are paid out until the Benefit Period has been exhausted or Total Disability ends, whichever the sooner.*

  • Lump Sum Benefit Overview

    Considered a career ending benefit, the Lump Sum is triggered by the Permanent Total Disability of the Insured, meaning they are not expected to recover or return to work. The benefit is paid out either following the exhaustion of the monthly benefit or once Elimination Period has been satisfied.*

*Above definitions are summary language only and not exact replica of Policy Wording

For more info about our Non Impaired Disability Insurance program, download our brochure

Download Brochure

Product Highlights

  • Complete and enhanced coverage not offered by domestic carriers

  • Flexible payment options

  • High consideration to needs and budget of clients

  • Various Benefit Periods and High Indemnity amounts available

  • Tailored plans and extensive suite of products to meet client's needs

  • Expert guidance to clients

  • Monthly Benefits payable up to 60 months and up to 65% of earnings*.

  • 1, 3 or 5-year Policy Term

  • Monthly and/or Lump Sum Benefits up to market maximum limits

  • Elimination Periods of 90, 120, 180 or 365 days

  • Own Occupation definition

*Less existing in-force coverage. Benefits tailored to match needs. Additional coverage available.