Disability Insurance: Policy that minimizes financial loss

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PostPosted: Mon Jun 27, 2011 7:52 am   Post subject:   

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Can I qualify for disability insurance because of a physical condition that will not allow me to work




Unless you are speaking of a state-run disability program, the answer is no. If you wait to purchase insurance until you need it, you've waited at least one day too long. If you have been unemployed for more than 12 months, you would be unlikely to qualify for any state benefit plan.



If you are capable of working, then you won't qualify for Social Security Disability income benefits, either.


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PostPosted: Mon Jun 27, 2011 7:55 am   Post subject:   

Quote:
if I go out on these coverage, would I be forced into surgery.




You cannot be forced to undergo any treatment you don't want. But . . . short-term or long-term, disability income insurance doesn't pay for medical expenses such as knee replacement surgery, it pays for lost wages due to defined disabilities.


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PostPosted: Wed Aug 03, 2011 1:03 am   Post subject: Ca Disability  

I have been on state disability for 5 months. My employer has "let me go" to replace me. I have a note from my doctor allowing me another 3 months for my chronic colitis condition. can i still receive state disability for the next 3 months? or do i now have to apply for state of ca unemployment to do other type work which i may be able to do

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PostPosted: Wed Aug 03, 2011 5:39 am   Post subject:   

Are you disabled or are you unemployed? If you are disabled, you cannot be unemployed (for the purpose of collecting unemployment insurance benefits), because to be unemployed means you are capable of working and actively seeking work. If you are disabled, you are unable to work.



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PostPosted: Fri Sep 02, 2011 6:38 pm   Post subject: Disability Insurance  

This insurance reduces disappointment

rezaul506
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PostPosted: Sun Sep 04, 2011 9:32 am   Post subject:   

NO IT DOESN'T reduce disappointment.



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PostPosted: Mon Sep 05, 2011 2:44 am   Post subject: total permanent disability  

I have short term and long term disability through my employer which pays up to 66% of my salary. In the event I become permanently disabled, does this benefit from my employer end at my retirement age? Can I purchase a policy that would provide coverage past my date of retirement. I am almost 50 and not planning on retiring until I am 65. I realize I may be asking late and my premiums will be high but I cannot risk living off what's left of my 401k and SS if I become totally disabled. Please advise


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PostPosted: Mon Sep 05, 2011 4:46 am   Post subject:   

You need to read your contracts to know the answers. Some LTD policies terminate at age 65, some provide a lifetime benefit.



You also need to be aware of the "definition" of disability in your policies, too. They will either be "ANY OCCUPATION" or "OWN OCCUPATION" or a combination of the two. The OWN OCCUPATION policy is less restrictive when it comes to qualifying as disabled.



Finally, if you have obtained these policies through your employment, you need to know if they can be converted to individual coverage upon termination of employment.



Quote:
Can I purchase a policy that would provide coverage past my date of retirement.


Such policies are available, but must generally be obtained prior to age 55.


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CA-licensed Life & Disability Analyst. CA Insurance Lic #0596197. Also investigating insurance company abuses, and providing litigation support/expert witness services. Send me your questions, and I'll send you my answers.
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PostPosted: Sun Nov 20, 2011 7:19 pm   Post subject: benefits start  

when do my benefits start? I went to emergency room and was admitted for 6 days, do my benefits start then?


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PostPosted: Mon Jan 23, 2012 9:12 am   Post subject:   

No one here can tell you what your policy provides for. You might have to be disabled for 6 months to 2 years before a benefit is payable. Then again, you might not even have any DI insurance at all.



You don't even tell us if this was work related or not.



More information is needed.



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PostPosted: Thu Mar 01, 2012 7:08 am   Post subject: medical insurance  

if something happens to my husband and he is entitled to his ltd benefit, will he also qualify for health insurance under my employer (IE will collecting disability disqualify one from getting health insurance)


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PostPosted: Thu Mar 01, 2012 8:09 am   Post subject:   

Group health insurance contracts generally make no distinction between active and disabled dependents, at least as far as initial enrollment or open enrollment periods are concerned. However, in an application for insurance, all questions must be answered accurately, and if a question appears concerning a dependent's disability, it must not be overlooked or answered falsely,



A health insurance company's genuine concern about disabled dependents is whether their health care expenses are due to a prior worker's compensation claim which may still be covered under that scenario. One's own health insurance is not intended or responsible for paying for the cost of care resulting from third-party causes (like work-related injuries and illnesses, or traffic collisions).



Where disability affects eligibility for group or individual insurance is in the area of preexisting conditions. A permanent disability due to loss of limbs or eyesight is different than from a back injury or heart attack or stroke.



The whole landscape concerning preexisting conditions was altered in the 1990s with the passage of HIPAA. If a person (including dependents) was covered by a group health insurance plan and leaves that group, he/she must be granted access to a new group health plan at the earliest eligibility point. If any such person has a preexisting condition for which coverage would be excluded for a limited period of time (such as 6 months), but covered even as a preexisting condition once the person had been covered by the new group plan after a limited period of time (such as 6 months), HIPAA permits "creditable coverage" to count on a month-for-month basis against the exclusion period.



Also, HIPAA provides that a dependent spouse covered by their own employer's group health plan who leaves that plan must be immediately covered under their spouse's upon application, and not forced to wait for the next open enrollment period, subject only to the preexisting condition exclusion/waiver as described above.



Is your husband currently an active participant in an employer-sponsored heatlh plan? Or is he currently disabled and not covered by any health insurance?



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PostPosted: Thu Apr 26, 2012 1:33 pm   Post subject: Dear friend. I truly just like your posting and your current  

Just to let you know, this page looks a little bit odd from my android phone. Who knows perhaps its just my mobile phone. Great post by the way.


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PostPosted: Thu Jul 26, 2012 3:09 pm   Post subject: pre taxed insurance  

is alflac insurance pretaxed


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PostPosted: Thu Jul 26, 2012 8:05 pm   Post subject:   

AFLAC's voluntary supplemental benefits are paid for with after-tax dollars which generally makes the benefits tax-free. I believe that's the answer to the question you were really trying to ask.



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