Articles Editor's Blog Reader Mail

Frequently Asked Disability Questions Lahaina HI

Cost of Living Adjustment ensures that the disability insurance benefit's paid to you will increase over time based on the cost of living. We assume that the cost of living will continue to go up and that is why disability insurance companies have COLA is an option. As usual, you increase the risk to the disability insurance company - and you will pay more for this type of policy.

Conrad Takehara
2051 Young Street #89
Honolulu, HI
Service
Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Hourly Financial Planning Engagements,Fee Only Portfolio Management,Wealth Engineering,Mortgage Refinancing,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Alternative Investments,Disability Insurance,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Busine

Data Provided by:
Hmsa-Hawaii Medical Service Association
(808) 948-5588
Honolulu, HI
 
Hmsa-Hawaii Medical Service Association
(808) 948-6244
Honolulu, HI
 
Hmsa-Hawaii Medical Service Association
(808) 948-5166
Honolulu, HI
 
Hmsa-Hawaii Medical Service Association
(808) 948-6140
Honolulu, HI
 
Hmsa-Hawaii Medical Service Association
(808) 246-1525
Lihue, HI
 
Hmsa-Hawaii Medical Service Association
(808) 948-6280
Honolulu, HI
 
Hmsa-Hawaii Medical Service Association
(808) 948-6440
Honolulu, HI
 
Hmsa-Hawaii Medical Service Association
(808) 935-6993
Hilo, HI
 
Kaiser Permanente
(808) 432-5919
Mililani, HI
 
Data Provided by:

Frequently Asked Disability Questions

Provided By: 

How Much Disability Insurance Benefit Do I Get?

What is a Cost of Living Adjustment (COLA)?
This ensures that the disability insurance benefit's paid to you will increase over time based on the cost of living. We assume that the cost of living will continue to go up and that is why disability insurance companies have COLA is an option. As usual, you increase the risk to the disability insurance company - and you will pay more for this type of policy.

Disability Insurance - What if I can't work full-time, but can work part-time?
You are not fully disabled, but you cannot work full time hours. In this case, if your disability insurance policy has a "residual" or a "partial disability" rider you can get back to work slowly. This rider allows you to receive a partial benefit while you have part-time work.

This particular rider is a great idea since it reduces risk to the disability insurance company and also lets you 'ease' back into work life after illness or accident. It doesn't normally cost you more, but you need to check the fine print.

Disability Insurance - What is a return of premium option?
This option provides for part of your premium to be returned to you, from the disability insurance company, if you have been claim free for a certain period.

While the return of disability insurance premium option looks like a good deal it really isn't. Get the right coverage (rather than less coverage) and pay the right disability insurance premium. Return of premium raises the stakes for the disability insurance company - and that's why you will either pay more upfront, or get less coverage.

This is a fairly unusual rider on a policy.

Disability Insurance - What does "Waiver of premium" provision mean?
This clause means that you do not have to pay premiums on the disability insurance policy after you're disabled for 90 days.

This actually makes sense. If you are disabled (and not making money) you don't want to have to be paying 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