Personal Disability Insurance

Inflation Protection: It’s a fact that inflation is likely to affect everyone as time goes by.

With personal disability insurance, you pay the premium, you own the policy and benefits are paid to you directly.

Typically, the cheaper plans have very strict definitions of disability, making it difficult to claim benefits over many years, warns Frank Darras, a disability insurance attorney with Claremont, Calif.

I will provide you with information regarding the major features of a disability insurance policy so that you may better understand how to read a disability insurance policy.

Here’s an easy way to figure out how much disability insurance you should have - regardless of whether your employer supplies you with coverage or not.

When comparing individual long term disability insurance options, make sure you’re choosing the best policy for your needs.

Many individual long term disability insurance policies provide income replacement of up to sixty percent of your pre-disability income.

If your individual long term disability insurance policy includes a future increase rider, you can add on additional coverage as your earnings increase without proof of medical insurability at that future time.

Disability Insurance Policy forms 1400, 1500 underwritten and issued by Berkshire Life Insurance Company of America, Pittsfield, MA, a wholly owned stock subsidiary of The Guardian Life Insurance Company of America, New York, NY.

Own Occupation definition of disability for income protection: There are two very different definitions of disability used in disability insurance policies.

Two is better than one To better protect yourself against income loss due to disability, consider LTD coverage plus The Protector+ individual disability insurance.

Long-term disability insurance - Provides benefits starting after an elimination period of one month to one year after you’ve been injured or become ill.

What’s far more likely is that you’ll need the financial protection Disability Income insurance provides at some point during your working years.

Plus, one overwhelming advantage of personal DI insurance is that it cannot be reduced or terminated if you leave your current employer.

What’s your biggest monthly payment obligation?

If you’re depending on your income to cover the cost of your living expenses, it’s essential that you protect your income with a quality disability income insurance policy.

The other less-favorable definition of disability states that you are disabled if you can’t work at any gainful occupation.

The best company for you When you choose to protect yourself against income loss from disability, you are establishing a long-term relationship with an insurance company.

Even if you’re lucky enough to have coverage, the plan may not meet all of your needs, warns Cara Lovenson, president of New York City-based insurance brokerage firm Plan Professionals.

The first thing I did when i started my own company was get life insurance.

There’s no reason to pay a premium for a long-term disability policy with a short elimination period of, say, 60 days when you have short-term coverage for six months.

That will tell you just how long you could get by without purchasing additional insurance.

When you opt for a residual disability rider, you’ll be able to receive a percentage of benefits in accordance with the impact a partial disability has on your income.

The elimination period refers to the period of time you’ll have to wait between experiencing a qualifying disability and beginning to receive benefits.

Do you have life insurance?

We pay you directly, unless you tell us otherwise, no matter what other insurance you may have.

Maybe it”s old-fashioned, but we still believe in the personal touch.

The physician does not have much of a medical practice left and the practice has no cash flow, but some patients are starting to return.

Many begin to suffer real financial need, often with no end in sight as the disability lingers on.

In the event that you are disabled, you are staking your future financial cash flow on the insurance company you choose.

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