How does your individual disability insurance policy pay you benefits if you travel internationally? If you apply for benefits with the anticipation of travelling abroad (tickets in hand), the company may either exclude foreign travel or request that you apply after you return. This is true if you are travelling somewhere that is considered dangerous. If you are taking a trip to Mexico, Canada or the Caribbean for example, you most likely won’t have any restrictions.
What if you decide to live outside of the United States? The answer is it depends on several factors, namely the company. Some companies require that at the time of claim you return to the US in order to receive benefits. Some companies state that you will not have any coverage if you leave abroad for more than 6 months of a calendar year. Some companies state that they will pay you benefits if you return within 12 or 24 months. It is important to read the fine print and familiarize yourself with the policy before you decide to live abroad.
If you apply for a policy with no short term anticipation of travelling abroad, most likely you will not have any restrictions or rating on the policy. However, the terms of the policy will still apply at the time of claim.
For more information about disability insurance for foreign travel or to request a quote, contact Set for Life Insurance today!