No Exam Disability Insurance?
Just as any other disability insurance plans, No Exam Disability insurance pays benefits when you are unable to earn a living because you are sick or injured. Like all insurances, disability insurance is designed to protect you against financial disaster. Most disability insurance policies pay you a benefit that replaces part of your earned income (usually 50 to 75 percent.) In other words, the disability insurance plan will only replace your after tax income.
Why no exam disability insurance?
This type of plan offers many advantages that standard disability insurance does not offer. It is much easier to apply and qualify for, no income documentation and no exam is needed. And since this plan is still being underwritten, the claim process is still prompt.
What are the Benefits Available?
With no exam disability insurance, there are some limitations on the benefits available. The maximum available is $2,500 in monthly benefits and the maximum benefit period is 5 years. The waiting period can still be 30 days, 60 days, 90 days and 180 days.
