Which of the following is NOT a characteristic of an individual disability?

The characteristic that is not associated with individual disability insurance is that the benefit may be paid annually. Typically, individual disability insurance benefits are paid on a monthly basis, reflecting the regular income replacement needs of the insured. This approach helps align the benefits with common monthly expenses, such as rent or mortgage payments, utilities, and other recurring costs.

In contrast, the other characteristics are indeed relevant to individual disability insurance. Premiums can be adjusted based on the insurer's underwriting process, meaning they may increase over time due to various factors, including age or changes in risk. The premium itself is determined by individual factors such as the insured's occupation and health status, ensuring that the cost reflects the person's unique risk profile. Additionally, benefits under individual disability policies are often specified as a stated dollar amount, providing clarity and ensuring that the policyholder understands exactly what their coverage entails.