Can i have two disability insurance policies

Also, excluding the BOE policy, anyone can have more than one personal policy.

The guidelines relate to income and occupation. Certain occs can buy higher percentages of income replacement, usually white collar, while blue collar are limited to less than full replacement, sometimes 60%, 75% and so on.

If a person has 60% income replacement occ, they can buy as many DI policies as they like as long as the combined DI benefits from all of the policies don't exceed the 60% total income replacement. It is not the best way but can be done.

Client has $6,000 income per month at 60% replacement, so they are eligible for up to $3,600 of DI personal coverage.

They can buy the $3,600 from one carrier or from multiple carriers, so long as the total of all DI policies does not exceed the $3,600.

This forum is a great resource. It's only natural to have lots of questions when you first start. Glad to see you're out there talking to business owners.

Many answers to your question lie in old threads. I suggest you take some time and go through them. In the life forum, you will find some great insights from agents who no longer post on this sight. Go read everything James wrote.

If you really want to get a handle on DI, go check out the DI website.

Avoid the health insurance forum. It's filled with crackers and jackasses and those who got their license from a crackerjacks box!

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A weak mind is like a microscope, which magnifies trifling things, but cannot receive great ones."

Also, excluding the BOE policy, anyone can have more than one personal policy.

The guidelines relate to income and occupation. Certain occs can buy higher percentages of income replacement, usually white collar, while blue collar are limited to less than full replacement, sometimes 60%, 75% and so on.

If a person has 60% income replacement occ, they can buy as many DI policies as they like as long as the combined DI benefits from all of the policies don't exceed the 60% total income replacement. It is not the best way but can be done.

Client has $6,000 income per month at 60% replacement, so they are eligible for up to $3,600 of DI personal coverage.

They can buy the $3,600 from one carrier or from multiple carriers, so long as the total of all DI policies does not exceed the $3,600.

I think that you should be aware that she has the ability to throw on a group disability policy to supplement the individual disability. Group disability insurance does not offset individual disability insurance. To my knowledge, at the time individual disability is implemented the application asks if any group DI is in place. If none is in place, then IDI does not acknowledge group if written after the fact. Check with your individual disability carrier to make sure. Also note that you are overinsuring your client and that there is no incentive to come back to work, which is frowned upon (by insurance carriers).

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