Illinois Mutual’s newest addition to our DI21 Product Series is our Special Risk Business Expense Protection SRBE21. This policy is designed for special risk business owners who are challenged to find quality, comprehensive business expense disability coverage due to health concerns such as diabetes, asthma, paralysis, heart attack and cancer, and do not qualify for standard business expense protection. SRBE21 is guaranteed renewable to age 65, which means that as long as premiums are paid, the policy can not be canceled.
SRBE21 allows you to:
- choose a 30, 60 or 90 day elimination period, or waiting period - that is the amount of time between the beginning of the disability and the date you qualify to begin receiving benefits.
- choose a 12, 18 or 24 month benefit period – that is the maximum length of time you will receive payment from Illinois Mutual for each period of disability.
- be covered in your own occupation for two years. The ability to perform specific activities related to your occupation is an important consideration.
- receive tax-free benefits. When the policy premiums are paid by you, the benefits you receive are income tax free.
- waive future premiums and pays back premiums after 90 days of total disability with our built-in Retroactive Waiver of Premium.
You can choose an option that:
- returns premiums you paid, less any claims, at age 65: Surrender Value Rider.
- pays you for up to six months if you become partially disabled: Partial Disability Benefit.
Some features and options availability may vary by state and occupation class.