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 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:
Articles for reference:
Thank you for listening!