Disability Insurance

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Disability Simplified

Future Increase Purchase Option

The Future Increase Option rider is one of the easier riders to comprehend, although the details associated with it should still be reviewed carefully. With each insurance carrier you consider, the name given to this rider may vary from: Future Increase Option, Future Purchase Option, Guaranteed Increase Option, Guaranteed Purchase Option, Guaranteed Insurability Option, etc. Rather than being familiar with the name, it is best that you become familiar with the concept.

Increasing Your Disability Benefit

The Future Increase Option provides the right to exercise an increase in monthly benefit based on the following criteria:

  • Increase must be warranted based on your income.
  • Total Disability insurance cannot exceed allowable levels based on individual carrier guidelines.
  • Medical underwriting will NOT be required for benefit increases.
  • Increases can only be made during option periods, which are described in each policy.

Each insurance carrier you consider will have a different structure to this benefit, so be sure to review them carefully with one of our Disability Insurance Specialists. Some of the differences you should be aware of are:

  • The maximum age for which you are able to exercise benefit increases.
  • Limitations on benefit increases at certain ages.
  • Whether benefit increases are available during a disability claim.

This benefit allows you to increase your monthly benefit in the future, so long as your income allows, without requiring proof of medical insurability. For a young professional or new business owner that expects his/her income to increase over time, this benefit is an important option to consider. We encourage you to call us today at 800-817-4522 or request a disability insurance quote.