Non Cancellable= Having this present on your policy guarantees that as long as you pay your premiums your individual disability insurance carrier guarantees that during your benefit period they will never raise your premiums, cancel the contract, or make any changes to policy definitions.

Own Specialty = If for some reason due to a sickness or injury you are unable to do your specific specialty the insurance carrier will consider you totally disabled even if you are still working in any occupation for wage or profit.  You will be eligible to receive your full monthly benefit regardless of how much income you are earning in another field.

Transitional Occupation = Total Disability or Totally Disabled means that, solely due to sickness or injury, you are not able to perform the material and substantial duties of your occupation and you are not working in any occupation for wage or profit.

Waiting period=Means the period of time you must be totally disabled before you are eligible to receive your base monthly benefit

The length of time the insurance carrier will pay your benefits

Residual=This means you are disabled and have met your elimination period but you are still working in your specialty.  Although you might be able to do the duties of your occupation, you might not be able to earn the same income due to your limitations.  When you have residual benefits on your policy you are also protected from the risk of partial disability while working in your specialty.  You will receive a pro-rated amount of your disability benefit while on residual disability claim.  This formula is based on the percentage of income you are earning now against the income you were earning prior to the date your disability began.

COLA=This is a inflation protection rider that guarantees that your disability insurance benefit is keeping base with the rise in inflation. -Do you want the ability to increase your coverage in the future through Future Purchase Guarantees

CAT=Catastrophically disabled means you are unable to perform two or more activities of daily living without stand-by assistance; or you require substantial supervision due to sever cognitive impairment.  Activities of daily living are: dressing, toileting, transferring, continence, eating, and bathing.  Benefits continue as long as you remain catastrophically disabled or to the end of the Catastrophic Maximum Benefit period on your policy

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