The Student Loan Repayment Rider is available in California on the DInamic Foundation individual Noncancelable (NC) and Guaranteed Renewable (GR) policies. This rider is designed to reimburse student loan payments during a period of disability.
General rider information:
• Available to occupation classes 6A–2A and 6M–2M
• Requires a disability policy with at least $1,000 base monthly benefit
• Maximum number of riders: three
• Duration periods: five to 15 years (must be less than or equal to the base benefit period)
• Minimum monthly student loan benefit: $100
• Maximum monthly student loan benefit: $2,500 (for all riders combined)
• Elimination period: 90 or 180 days (must be equal to or greater than the base policy)
**Please note: If a residual or partial benefit is paid under the policy, this rider will reimburse up to 50% of the monthly loan payment. This is significant because other carriers typically only pay this benefit during a period of total disability.