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8 Disability Insurance Terms You Should Know [Videos]

A good financial or insurance professional knows to mention disability insurance when discussing risk management with a client. If someone relies on a monthly paycheck, they need income insurance. It’s straightforward enough to share a Disability Insurance 101 video like this one from LifeHappens to cover the basics of why DI is important, but things start getting tricky when we go into plan design.

To put it plainly, disability insurance policies can be challenging to understand—especially when carriers redesign or revise products every few years. We do not expect a financial advisor or even a different line of insurance professional to know these contracts through and through. That’s what we’re here for.

However, it is helpful to understand some disability insurance jargon to better serve your client through the quoting, application, or underwriting process. Knowing a handful of benefit features, definitions, and other policy choices can make the entire DI sales process smoother for both you and your client.

We created these educational videos for producers like you who want to become more versed in disability insurance lingo. Each short clip (around a minute) quickly covers one DI term at a time with a universal, carrier-agnostic explanation that is relevant to most typical disability insurance contracts.

And what a better time to brush up on disability insurance than Disability Insurance Awareness Month (May)? Feel free to use these videos as a reference for your DI conversations to celebrate this awareness month.

In this list, you can learn more about the Monthly Benefit and Monthly Benefit Duration, the Elimination or Waiting Period, Total Disability, Partial Disability, Noncancelable vs. Guaranteed Renewable, Inflation Rider, Catastrophic Rider, and Future Benefit Increase. Watch through all the videos or pick and choose which term you need defined on your own time.


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