Top 3 Reasons You Need a Residual Rider

Every income protection policy needs a residual rider. Here’s why:

Top Three Reasons a Residual Rider Is a Must-Have

1. If your clients can work only part time, they’ll still need their full-time incomes. If a policyowner becomes sick or injured but is still able to work part time, a residual disability benefit can help fill the resulting income gap.
2. Policyowners on disability claim may need to return to work slowly, working part time as they recuperate. Some policyowners collect total disability benefits at first and then receive residual disability benefits. This allows them to work part time as they regain their health — and still collect benefits to offset lost income.
3. The recovery benefit can keep your clients’ incomes whole if they still suffer an earnings loss after returning to work full time. The Enhanced and Basic Residual Disability riders with Platinum Advantage include a recovery benefit. This benefit is for policyowners who return to work for as many hours as worked before the disability, but still suffer an earnings loss of at least 20% due to the previous injury or sickness.

Check out real-life examples in the Claims Paid by The Standard flyer. It shows partial or residual disability benefits paid to claimants for some or all of the payment period.

To learn more about the three types of Residual Disability riders available with The Standard’s Platinum Advantage income protection insurance, see the Residual Rider Comparison flyer.

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