Articles Editor's Blog Reader Mail

Disability Insurance Policy Options Papillion NE

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.

Advanced Health Plans Inc.
(402) 312-7997
13520 Discovery Dr. Ste. 217
Omaha, NE
 
Midwest Medical Billing Service
(402) 504-4680
11977 South 202nd Street
Gretna, NE
 
Med One of Nebraska
(402) 932-6331
P.O. Box 12083
Omaha, NE
 
Healing Radiance Massage
(402) 880-7618
1216 Howard St
Omaha, NE
 
Midwest Medical Billing Service
(402) 504-4680
11977 South 202nd Street
Gretna, NE
 
Healing Radiance Massage
(402) 880-7618
1216 Howard St
Omaha, NE
 
Med One of Nebraska
(402) 932-6331
P.O. Box 12083
Omaha, NE
 
Advanced Health Plans Inc.
(402) 312-7997
13520 Discovery Dr. Ste. 217
Omaha, NE
 
Senior Market Supplements
(402) 467-0008
3915 Holdrege St
Lincoln, NE
 
Action Insurance Agency
(402) 697-8181
12100 W Center Rd Ste 208
Omaha, NE
 

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