My Capital One Card held credit insurance in case of death loss of employment or total disability., i have been disabled now for two years yet the company refuses to pay what can i do?
Total Comments: 18
Posted: Thu Feb 19, 2009 08:13 am Post Subject:
Gary, I must thank you for clarifying and making things easier for everyone to understand..now I see how we non-professionals have common misconceptions. It is also important for us to remember that there are so many jobs which won't be termed as 'high risks' an still could be disability-prone.
Posted: Thu Feb 19, 2009 09:59 am Post Subject:
Great post InsTeacher!!!
You're 7 times more likely to become disabled as opposed to dead before age 65. 1 in 5 of us will have a disability that lasts at least 5 years. The S.S. administration says that the average disability costs (in terms of wage loss, social benefits assigned and medical bills) a whopping $186,000.
I'm glad you posted the statistics. They should be an eye opener for most people. You can make a fortune selling Disability Income Insurance if you can just get the case through underwritting. Also these policies really aren't that expensive if reasonably structured by limiting the benefit period to five years. Five years is more than enough time to make financial adjustments and to qualify for Social Security and Medicare if severely disabled where you cannot perform any occupation.
Illinois Mutual has excellent blue collar Disability Income Insurance.
Posted: Thu Feb 19, 2009 11:03 am Post Subject:
Well, I have heard that in the same age group women are at greater risk of becoming disabled than men, is that right?
Posted: Thu Feb 19, 2009 06:43 pm Post Subject:
women are at greater risk of becoming disabled than men, is that right?
i do have the same question how these actuaries find it out who is more
prone to disease who is not? but with women it will be somewhat related to
the pregnancy ( correct me if i am wrong) so .... i am waiting 4
answer :wink: :wink:
Posted: Thu Feb 19, 2009 07:24 pm Post Subject:
Insurance teacher sure did list some numbers that would blow a person away. Wow I had to take a second look. I also can see why carpet layers would qualify. Guess the knees would get a little testy after being used as a hammer tool.
As per women I believe pregnancy is robaly one of the reason but I am sure there will other factors that weigh in here too.
Posted: Fri Feb 20, 2009 07:18 am Post Subject:
The stats can be pretty scary.
Gary has some good points:
Five years is more than enough time to make financial adjustments and to qualify for Social Security and Medicare if severely disabled where you cannot perform any occupation.
In looking at 2,3 and 5 year benefit periods with medocre elimination periods, coverage can be pretty reasonable in terms of cost. Most companies are willing to issue witha minimum of hassle if you have a decent client, and Gary's right- commissions can be sweeeeeeeet. We did more than a few professional athletes DI contracts through a surplus lines market, and whoa, baby. :!: :shock: :D :!:
If you can get group coverage, get it. It's going away in the marketplace, and more and work worksite companies (Aflac, United American, etc.) are taking the place of the traditional employer-paid group disability policies. This shifts the cost to the employee and since many of these coverages fall under section 125 plan coverage- the wages are deducted from the employee's check pre-tax and the employer now saves on employment taxes. How cool for the employer, and how el-sucko for the employee. Why not take adavantage of this as the employer, and this is why companies like Aflac are making a killing.
InsTeacher 8)
Posted: Wed Mar 18, 2009 05:05 pm Post Subject:
One of your phone agents told me that under my card I have all types of
coverage, including roadside assistance and a myriad of other coverages.
Could you please tell me what is actually covered under my Capital One
Platinum card?
Posted: Mon Oct 26, 2009 03:23 am Post Subject: Cute Girl
Posted: Thu Feb 19, 2009 08:13 am Post Subject:
Gary, I must thank you for clarifying and making things easier for everyone to understand..now I see how we non-professionals have common misconceptions. It is also important for us to remember that there are so many jobs which won't be termed as 'high risks' an still could be disability-prone.
Posted: Thu Feb 19, 2009 09:59 am Post Subject:
Great post InsTeacher!!!
You're 7 times more likely to become disabled as opposed to dead before age 65. 1 in 5 of us will have a disability that lasts at least 5 years. The S.S. administration says that the average disability costs (in terms of wage loss, social benefits assigned and medical bills) a whopping $186,000.
I'm glad you posted the statistics. They should be an eye opener for most people. You can make a fortune selling Disability Income Insurance if you can just get the case through underwritting. Also these policies really aren't that expensive if reasonably structured by limiting the benefit period to five years. Five years is more than enough time to make financial adjustments and to qualify for Social Security and Medicare if severely disabled where you cannot perform any occupation.
Illinois Mutual has excellent blue collar Disability Income Insurance.
Posted: Thu Feb 19, 2009 11:03 am Post Subject:
Well, I have heard that in the same age group women are at greater risk of becoming disabled than men, is that right?
Posted: Thu Feb 19, 2009 06:43 pm Post Subject:
women are at greater risk of becoming disabled than men, is that right?
i do have the same question how these actuaries find it out who is more
prone to disease who is not? but with women it will be somewhat related to
the pregnancy ( correct me if i am wrong) so .... i am waiting 4
answer :wink: :wink:
Posted: Thu Feb 19, 2009 07:24 pm Post Subject:
Insurance teacher sure did list some numbers that would blow a person away. Wow I had to take a second look. I also can see why carpet layers would qualify. Guess the knees would get a little testy after being used as a hammer tool.
As per women I believe pregnancy is robaly one of the reason but I am sure there will other factors that weigh in here too.
Posted: Fri Feb 20, 2009 07:18 am Post Subject:
The stats can be pretty scary.
Gary has some good points:
Five years is more than enough time to make financial adjustments and to qualify for Social Security and Medicare if severely disabled where you cannot perform any occupation.
In looking at 2,3 and 5 year benefit periods with medocre elimination periods, coverage can be pretty reasonable in terms of cost. Most companies are willing to issue witha minimum of hassle if you have a decent client, and Gary's right- commissions can be sweeeeeeeet. We did more than a few professional athletes DI contracts through a surplus lines market, and whoa, baby. :!: :shock: :D :!:
If you can get group coverage, get it. It's going away in the marketplace, and more and work worksite companies (Aflac, United American, etc.) are taking the place of the traditional employer-paid group disability policies. This shifts the cost to the employee and since many of these coverages fall under section 125 plan coverage- the wages are deducted from the employee's check pre-tax and the employer now saves on employment taxes. How cool for the employer, and how el-sucko for the employee. Why not take adavantage of this as the employer, and this is why companies like Aflac are making a killing.
InsTeacher 8)
Posted: Wed Mar 18, 2009 05:05 pm Post Subject:
One of your phone agents told me that under my card I have all types of
coverage, including roadside assistance and a myriad of other coverages.
Could you please tell me what is actually covered under my Capital One
Platinum card?
Posted: Mon Oct 26, 2009 03:23 am Post Subject: Cute Girl
me too :)
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