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(Continued from page 3)
lock in.
• • Some policies won't pay benefits unless you can't perform the duties of your own occupation, while others specify that you must be physically unable to perform any job (the latter coverage is much cheaper).
• • Look for a "non-cancelable" policy, which means the insurer can't cancel or refuse to renew your policy - or raise the premium - if you pay on time.
• • The longer the waiting period before benefits are paid, the lower the premium. Thus, if you have enough sick time and savings to wait 120 days before payout, your premiums will be significantly less than for a 60-day waiting period.
• • Some policies only provide benefits for two years, while others pay until your normal Social Security retirement age - most cover somewhere in between. The (Continued on page 5)
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