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How to Insure Your Income: Personal Interviews

After you've submitted a disability insurance application, a personal interview usually is performed by a trained interviewer working for the insurance company. (It also may be done by an independent third party.) The interview normally is completed over the telephone.

Generally, the purpose of the interview is to verify application information. Specifically, any application data regarding medical history, hobbies and occupational duties may have to be explained, or additional information may need to be gathered through this report.

You will be notified of this interview in advance. Typically, this is done in writing. Most applications contain a disclosure notice that is detached from the application and given to -- or kept by -- the person applying for coverage.

The insurance company has specific issue and participation limits, which are based on various factors -- including, as we've seen, your occupation and earned income.

As a rule, most insurers will offer coverage equal to 60 percent to 70 percent of earned income. This limitation also may be adjusted -- and usually decreased, if anything -- due to the occupational class of the applicant. Most insurers will offer smaller amounts of disability income protection to those in the more hazardous occupations.

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