“To age 65” benefit period

A “to age 65” benefit period means that once your waiting period is over you will be paid your insured monthly benefit up until you turn age 65 if you are off work due to illness or injury for this period.

Advantages

  • This is a long benefit period and will ensure that your income will be insured for your working life up until age 65.

Disadvantages

  • The premium is more expensive than the shorter benefit periods.

Why a “to age 65” benefit period is recommended

  • Your income will be insured for your whole working life, assuming a retirement age of 65; and/or
  • You have liabilities and ongoing expenses which you would not be able to meet if you were off work for an extended period of time.
The Dover Group