Originally Posted by
PurpleToolBox
Are there any pros or cons with electing the 12 or 24 month qualifying period?
I’ve heard some say when they were junior they elected the 12 months because it was cheap. As they grew older and built up a nest egg they switched to the 24 months to save in premiums.
Any ideas? Thanks.
That makes sense. But I felt that selecting the 24 months made the policy almost unusable. You would need to have something extremely serious to be out for longer than 24 months, and I think people rarely collect on a policy with that restriction. Of course, if you’re young, you could collect for a long time if everything went south.