In this episode, my guest Ethan Abramowitz and I discuss Own Occupation Disability Income Insurance Contracts again.
This time, we have a larger focus on the COLA rider = Cost of Living Adjustment Rider as well as the Future Purchase Options.
COLA riders would allow for your monthly benefits to keep up with inflation if you were on a total disability claim.
Future Increase Options have a cost associated with buying the rider.
- These are available annually.
- Not every carrier offers this type of rider.
Future Purchase Options may also be called:
- Benefit Updates
- Benefit Increase Riders
- Benefit Purchase Riders
These are typically every third year and have no costs associated.
It is great to get insight from an attorney’s perspective! If you have a question for Ethan, you can reach him here:
Website: SeltzerLegal.com
Email: EAbramowitz@seltzerlegal.com
Phone: 215-735-4222
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