Residual Disability Riders Toolkit

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Benefit Increase Rider

 

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Platinum Advantage offers the ultimate flexibility around residual disability coverage. Determining which rider is right for your customer is a matter of understanding the coverage gaps they’re most likely to experience. We offer Basic, Short-Term and Enhanced Residual Disability riders so you can offer the right solution for each customer.

 

Residual Riders Defined

Basic Residual Disability Rider

Occ. Classes: All classes except A and B
Benefits: Guaranteed to be at least 50% of the basic monthly benefit for the first 6 months; after 6 months benefits paid may be more or less than 50%, depending on loss of income
Based on: A loss of income and a loss of either time or duties
Recovery Benefit: Paid if insured returns to same occupation and has a loss of at least 20% income due solely to the same disability

Enhanced Residual Disability Rider

Occ. Classes: 3A, 3P and higher
Benefits: Guaranteed to be at least 50% of the basic monthly benefit for the first 12 months; after 12 months benefits paid may be more or less than 50%, depending on the loss of income
Based on: Loss of time or duties or income during the benefit waiting period
After Benefit Waiting Period: Insured is considered residually disabled if working in regular or any other occupation and experiences a loss of income
Recovery Benefit: Paid if insured returns to work in own or other occupation and has at least 20% income loss due solely to the same disability

Short-Term Residual Disability Rider

Occ. Classes: 2A, 2P, A and B
Benefits: 50% of the basic monthly benefit up to 6 months
Based on: A loss of income of 20% or more and a loss of either time or duties during and after the benefit waiting period

 

Relevant Marketing Materials

Platinum Advantage Consumer Brochure 

Platinum Advantage Consumer Brochure (CT, DE, DC, FL, MT, NY, ND, SD) 

CA Platinum Advantage Consumer Brochure 

Examine the Contract Language

Platinum Advantage Annotated Sample Policy — pages 27-36

Platinum Advantage Annotated Sample Policy (CT, DE, DC, FL, MT, NY, ND, SD) — pages 27-36

CA Platinum Advantage Annotated Sample Policy — pages 26-31

NY Platinum Advantage Annotated Sample Policy — pages 24-33

GSI Platinum Advantage

Platinum Advantage GSI Annotated Sample Policy — pages 27-36

Platinum Advantage GSI Annotated Sample Policy (CT, DE, DC, FL, MT, NY, ND, SD) — pages 27-36

Platinum Advantage GSI Annotated Sample Policy (CA) — pages 26-31

Platinum Advantage GSI Annotated Sample Policy (NY) — pages 23-32

Sales Resource for Producers Only

Platinum Advantage Residual Rider Comparison 

Looking for more info? Check out these IDI Connect articles

3 Keys to Recommending a Residual Rider

Top 3 Reasons You Need a Residual Rider

Quiz: Can You Pick the Best Residual Rider?

Know-It-All: Which Residual Rider Is the Right Choice?

Meet Client Needs With the Right Residual Option

Match the Residual Rider to the Client Need