There can be a wide difference of opinion as to when to make a disability insurance claim. Either you or your employer may decide that you are no longer capable of working. Your doctor may even agree. But the final determination – at least as it relates to the payment of benefits under your disability […]
The following are posts by staff writer, Kevin Mercadante, who is a professional personal finance blogger, and the owner of his own personal finance blog, OutOfYourRut.com. He has backgrounds in both accounting and the mortgage industry.
Disability insurance provides protection of your ability to earn a living. That makes it one of the most important forms of insurance you can have. But there are provisions in disability policies that the average person isn’t familiar with. One of the most important is a disability insurance exclusion. They are the events that will […]
The short answer to that question is maybe! It all depends on who pays the premiums on the policy – you, your employer, or combination of both – and whether or not you pay the premiums with pre-tax or after-tax dollars. With employer-sponsored plans, those points aren’t always entirely clear. Even if you have an […]
If for any reason that you are under the impression that if you’ve seen one disability policy, you’ve seen them all, then I have some news that may be a real shock. There are two important definitions, and which your policy relies on can affect your ability to make a successful disability claim. The definitions […]
You have a disability insurance policy, and you’re sure that you have just experienced a disabling event that will enable you to collect benefits under the policy. But will the insurance company actually pay your disability claim? That’s a question that is not uncommon among people who file for disability benefits. Sometimes insurance companies do […]
All disability policies come with a waiting period. This is true whether the type of disability policy that you purchase is a long-term or short-term plan. The waiting period with disability insurance functions very much like the deductible with auto insurance and with health insurance. It reduces the insurance company’s liability, by forcing you to […]
If you decide that you need disability insurance, the next important question is Do I need short-term or long-term disability insurance? That’s an important question – you want to have disability insurance, but you want to make sure you have just the right amount and no more. Why Short-term Disability? Short-term disability insurance is so […]
Though it can seem counter-intuitive, short-term disability sometimes cost more than long-term disability. That may not seem right on the surface, because ultimately a long-term plan can potentially pay out far more in benefits then a short-term plan. Yet still, it is often true that short-term disability costs more. How can it be? Short-term Disability […]
Statistically, about one out of every four workers will become disabled at some time during their lives. That makes a strong case for having disability insurance of some sort, whether it is provided by an employer, or through a private plan that you purchase directly from an insurance company. There are a number of considerations […]
No only can your small business buy disability insurance, but it almost certainly must. As a small business owner, you are actually more at risk for a disability claim than salaried workers, so this coverage is absolutely necessary. How Disability Insurance Works in a Small Business Disability insurance policies work much the same way for […]
