Not all disabilities manifest themselves equally. There are tens of thousands of known human diseases and countless ways the relatively-fragile human body can be injured. And although modern medicine has remarkably progressed in recent generations, the number of disabled persons in this country has rapidly expanded. The disabled community is now the single largest minority group in the United States. Over 20% of Americans live with some form of disablement, and many of them are unable to earn a continuous lifestyle-sustaining paycheck.
Most insured, employed persons strive to continue working and rehabbing after suffering a complete or partial disability due to accident or sickness. Most working people wish to be successful contributors to their families and to their own livelihoods. This observation has given underwriters confidence in the U.S. disability insurance market over the years, instilling a belief and faith that most claimants desire to get back to work full time after periods of disablement, hence the importance of a residual disability rider.
However, many insurance professionals neglect to recognize or fully celebrate the importance of residual disability insurance.
Residual disablement is often defined as someone sustaining a loss of earnings solely due to sickness or injury, yet remaining gainfully employed and not totally disabled. Residual disability coverage provides monthly benefits that coordinate with a claimant’s loss of earnings in an attempt to make the income of that claimant as proportionately whole as possible. The goal of the residual disability rider is to provide a supplemental income to a disabled person who is still working, but not yet or not anymore considered to be totally disabled. The rider allows a person who is not deemed totally disabled the ability to transition back into the workforce with the freedom of time for proper rehabilitation and, if necessary, gradual re-acquisition of occupational skill.
The Residual Disability Benefit Rider is an integral component of personal disability products. as well as business overhead expense coverage. Disabilities are not black and white, and disabled persons are afflicted to varying degrees. Residual disability insurance provides a more comprehensive level of income protection for your valued clientele.