Articles Editor's Blog Reader Mail

Disability Insurance Policy Options Annandale VA

Disability insurance varies widely. Some features of the policy may add value for you or may not. As usual, you must weigh your risk. Always remember that anything that increases risk for the insurance company will increase cost for you. So, if you want a larger percentage of your salary in benefit, it will cost you more.

Robin Wulff
7202 Arlington Blvd.
Falls Church, VA
Company
Title: Agent
Company: ABP Insurance Agency, Inc
Education
Washington State University - BA
Portland State University - MBA
Years Experience
Years Experience: 20
Service
Life Insurance,Health Care Insurance,Long-Term Health Care Planning,Disability Insurance,Annuities

Data Provided by:
Gordon Green
47218 Longwood Ct
Potomac Falls, VA
Education
University of Maryland College Park, MD Campus Bachelor of Science Degree
Years Experience
Years Experience: 15
Service
Annuities,Alternative Asset Class Planning,Commission-Only Financial Planning (Full Disclosure),Estate Tax Planning,Asset Protection Strategies & Planning,Fee-Only Comprehensive Financial Planning,Wealth Engineering,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Medicare Planning,Life Insurance,Investment & Portfolio Management,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Retirement Income Accumulation Planning,Hourly Financial Planning Engagements,Por

Data Provided by:
Anthem Virginia Blue Cross Blue Shield Insurance Quotes
(703) 637-9940
1400 Spring Hill
McLean, VA
 
Cosmetic Dentistry of Washington
(202) 296-8777
1145 19th St., NW
Washington, DC
 
Barbara G. Farishian, DDS, PLLC
(202) 363-0106
Farishian, DDS, PLLC
Washington, DC
 
Martin Smith
4800 Hampden Lane
Bethesda, MD
Company
Title: President, Wealth Management Advisor
Company: KingdomTrust Capital Management, Inc.
Education
Howard University, Bachelor of Arts
Regent School of Divinity, Candidate: M.DIV
Denver College of Financial Planning
Years Experience
Years Experience: 15
Service
High Yield Bank Accounts,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Alternative Investments,Life Insurance,Investment & Portfolio Management,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Fee-Only Comprehensive Financial Planning,401k Rollover From Employer,Income for Life/ Preserve Principal,Wealth Management,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Commi

Data Provided by:
Virginia Health Insurance
(703) 451-1519
8229 Kings Charter
Burke, VA
 
GlaxoSmithKline
(703) 684-3979
227 North Royal Street
Washington, DC
 
United Dental Corporation
(202) 861-0001
1629 K St., NW
Washington, DC
 
Drs. Noguera & Russo, P.C.
(202) 861-0045
2021 K St., NW #522
Washington, DC
 
Data Provided by:

Disability Insurance Policy Options

Provided By: 

Disability Insurance Policy

Disability insurance varies widely. Some features of the policy may add value for you or may not. As usual, you must weigh your risk. Always remember that anything that increases risk for the insurance company will increase cost for you. So, if you want a larger percentage of your salary in benefit, it will cost you more. If you want a cost of living adjustment on your benefit's if they extend beyond a year or two, this will also cost you more. Anything that you do that requires the insurance company to adopt more risk will cost you more in premium.

There are a number of questions to ask yourself as you examine a potential policy. However, one of the most critical is to find out how disability is defined. Pay very close attention to this.

Some policies will pay benefit's as soon as you can't do the work of your regular job because of illness or accident. However, others only pay if you can't do ANY job suitable for your education and experience. This could mean that you are forced to take a job well below your current jobs income potential and yet you won't qualify for benefit's to top you up to your former salary. This is something to think about. If you don't have some kind of coverage that will continue while you are both job-hunting and completing your recovery, you could be in a significant financial bind.

Further, some policies will define disability in terms of your existing job for only a limited period say 2 or 3 years and then will expect you to retrain for another occupation. You may get benefit's while you re-train, but you may not. In any case, your benefit's will cease. Again, you must consider if this is the kind of coverage that will work for you and your family.

The Cadillac policy is to have payments continue for your lifetime. Obviously, any policy that would pay you for a lifetime after an incapacitating illness or accident will be more expensive. You will have to decide if that makes sense for you ...

Click here to read the rest of this article from Insurance Guide 101

About Us | Contact Us | Link to Us | Privacy Policy | Terms of Use | Insurance Resources | Sitemap