What minimum benefit amount must be provided in a Disability Income Provision policy?

For a Disability Income Provision policy, the minimum benefit amount specified by Indiana law is $200 per month. This requirement ensures that individuals who are unable to work due to disability receive a basic level of financial support to help them maintain their standard of living during periods of incapacity. This amount reflects the intent of the regulation to provide a safety net for insured individuals, allowing them to cover essential expenses while they are not able to earn income from their employment.

By establishing this minimum, the regulation recognizes the importance of sufficient coverage to meet the needs of policyholders facing disabilities, ultimately promoting financial security and stability for those impacted.