What are the restriction to get DI

Submitted by Anonymous (not verified) on Thu, 11/03/2011 - 10:59

If a person is determined to be uninsurable for DI, how difficult is it to get them insured through a "risk" pool or high risk company and does this uninsurable status through the main stream companies in any way restrict the benefits they can receive with a high risk/uninsurable status with a company that do insure high risk pools? Please advice.

Posted: 03 Nov 2011 03:23 Post Subject:

Unless you are part of a group and get a policy that is guaranteed issue, you have no chance of getting a decent disability policy.

In other words, I'm not saying that you can't get coverage. I am saying that any coverage that you can get won't be very good.

Posted: 05 Nov 2011 05:36 Post Subject:

Hi Uninsurable,

It is always better to get insured at higher premiums rather than having no insurance.

But my point is little different here.. even after paying high charges on getting insured,if you are not sure whether the claim will be processed or not (definitely when claim is made) then there is no point in getting covered for the plan...

But it is sure that you can opt for group policy instead of individual one and you will get a good deal at reasonable rates.

Posted: 07 Nov 2011 05:39 Post Subject:

You may get insured through a company that insure "High risk" pools. But that would mean you'll get restricted coverage for a high price. Check with an independent agent to find out your options and prices.

Posted: 22 Dec 2011 05:00 Post Subject:

Thanks for the information, it was really a nice information shared by you.

Posted: 03 Feb 2012 08:43 Post Subject: Disability Insurance...

Hello there....
The amount of coverage you have through the employer will reduce the amount of coverage you can buy on an individual policy. If that individual policy was in place before the group policy, there would be no restriction. Most insurers have special limit programs for residents and fellows, REGARDLESS of your current income. Get the maximum available to you and make sure its own-occ, use a graded premium, include residual, COLA and future increase riders on the policy - you'll be set. Oh and work with someone who truly knows disability insurance.


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