Posts Tagged ‘disability insurance

30
Apr
12

Protecting Income – Shopping for Life & Disability Insurance

  1. Life Insurance
  2. Disability Insurance
  3. Shopping for Life & Disability Insurance
  4. Social Security Survivor & Disability Benefits
  5. Will Life insurance benefits be taxed?
  6. Emergency Fund
  7. Umbrella Insurance

Shopping for both life and disability insurance can be a daunting task.  And while we typically don’t like to use services by people who have “agent” in their title, using one for obtaining life and disability is advised.  Our agent helped us with all the paperwork, met us at our work to sign the papers, came to our home to talk with us etc.  He certainly made the experience much easier.  AND when our nasty habit proved to be a problem, he was able to go out and find another company which satisfied our criteria without having to do another medical screening.  Tres simple.  The price is the same whether you use an agent or not, so you should use the service of a good agent.  There are plenty out there, so if you run across one you don’t like, move onto the next one.  Wash, rinse and repeat until you find an agent you like.

Continue reading ‘Protecting Income – Shopping for Life & Disability Insurance’

26
Apr
12

Protecting Income – Disability Insurance

  1. Life Insurance
  2. Disability Insurance
  3. Shopping for Life & Disability Insurance
  4. Social Security Survivor & Disability Benefits
  5. Will Life insurance benefits be taxed?
  6. Emergency Fund
  7. Umbrella Insurance

Did you know you are more likely to become disabled than you are to die?  We don’t know if that is true, but you hear it a lot and there are some old statistics sited on the interwebz from agencies we have never heard of.  Not to say they are invalid, just that we can’t vouch for them.  The Social Security Administration claims you have 30% chance of becoming disabled before you reach retirement age.  Either way, you still need disability insurance.

Disability insurance is tricky.  Life insurance will seem simple after going through all this mainly because when you are dead, you are dead.

Whoo-hoo-hoo, look who knows so much. It just so happens that your friend here is only MOSTLY dead. There’s a big difference between mostly dead and all dead. Mostly dead is slightly alive. With all dead, well, with all dead there’s usually only one thing you can do.

-Miracle Max, The Princess Bride

Ok, aside from what we all learned in The Princess Bride, being dead is cut & dry.  Being disabled, now that is interesting.  It is similar to being sick, it means different things to different people.  Someone can have a headache and be sick.  Or they can have a cold.  Or pneumonia.  And being disabled, means different things to different insurance companies.

Continue reading ‘Protecting Income – Disability Insurance’