That's Right! If you don't use your disability policy benefits for either Total Disability or Partial/Residual Disability, the carrier will refund you 50% of your premiums every 5 years.
This may be a perfect opportunity for those physicians who say “I'm never going to become disabled," or " I don't want to waste my money on disability insurance premiums".
With the Return of Premium Rider, (yes there is an additional premium required for this benefit) you can still protect your income and your lifestyle, but if you never become disabled, you get half of your premiums back. It's a WIN/WIN!!
But what happens if you do become disabled and you are unable to perform your medical specialty any longer due to a sickness or an injury? Well then you have your disability insurance benefits to rely on. You are still OK. However under this rider, you would only be refunded your premiums if the premiums you have paid exceed the disability benefits you have received. Also if you cancel your policy during the 5 year period you do not receive any premium refunds.
Given the fact that you may never use your disability insurance benefits, wouldn't you like to get a substantial check back every 5 years? You decide, but let's talk about it. Call me at (800) 729-6929. (This rider is N/A in the following states: CT, FL, NJ, NY, OR, PA and TN)