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Chapter 18. Disability Income Insurance > Definitions and Benefits
Definitions and Benefits
Disability income insurance can be defined as a contract that normally pays a monthly benefit, following the elimination period, for total disability due to accident or sickness. Disability benefits may also be paid for partial or residual disability as well as total disability.
Note
An understanding of each of these terms is important because as a producer, you must be able to explain to the insured how this policy will work if he or she becomes disabled. Benefits will be paid in accordance with the policy’s terms and conditions.
