I have disability insurance under what circumstances can i g

Message Author
ampm-bookmark
delicious-small Add to delicious
yahoomyweb-small Add to YahooMyWeb
blinklist-small Add to BlinkList
PostPosted: Sun Dec 27, 2009 1:35 am   Post subject: I have disability insurance under what circumstances can i g  

my disability insurance does not pay enough for a pca how do i get an increased amount?

Trippybry
New member
Leave a quick message



Joined: 27 Dec 2009
Posts: 3


1.83 Dollars($)

PostPosted: Sun Dec 27, 2009 12:38 pm   Post subject:   

Is this thru your employer? A private policy that you paid for? or increased?



_________________

"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.
Lori
Forum Expert
Leave a quick message

Lori
Forum Expert

Joined: 10 Sep 2007
Posts: 8080

Location: Missouri
287.93 Dollars($)

PostPosted: Mon Dec 28, 2009 1:01 am   Post subject:   

To increase coverage you will have to purchase additional coverage. You might have the option to purchase additional coverage from an employer group plan. The coverage that you get from a group LTD plan is rather basic and not the most comprehensive.



To increase coverage and get better coverage than a group plan, look at individual policies. Speak with an agent about individual disability insurance and they can help you with the purchase of a plan to increase your current coverage.



Keep in mind that there are limitations to the amount of disability insurance that you can own. These are referred to within the industry as participation limits. Most often you'll see this--as a consumer--in terms discussed as a percentage of your gross income. In truth, every insurer has a specific number they are willing to issue to each combination of income level and occupation class.

BNTRS
Senior member
Leave a quick message



Joined: 05 Nov 2009
Posts: 848


15.71 Dollars($)

PostPosted: Mon Dec 28, 2009 7:54 am   Post subject:   

Quote:
To increase coverage and get better coverage than a group plan, look at individual policies.


If someone pays more and adds coverage to a group plan - then how's it better to go for an individual plan?
steven
Senior member
Leave a quick message

steven

Joined: 02 Feb 2006
Posts: 1546


215.91 Dollars($)

PostPosted: Mon Dec 28, 2009 11:08 pm   Post subject:   

Disability income insurance is all about the contractual terms. Much more favorable contractual language can be purchased with an individual plan than can be purchased with a group plan. In other words, there are many things that can happen that will result in no payment from a group plan, but a payment will be made with the disability in the individual plan.



Good individual policies can typically only be purchased by white collar professionals.


_________________
Register Now to have your Insurance queries solved.
Guest 1
Guest







PostPosted: Tue Dec 29, 2009 12:23 am   Post subject:   

Quote:
If someone pays more and adds coverage to a group plan - then how's it better to go for an individual plan?




That's not what I've stated. The increase in group coverage was merely mentioned as a way to increase coverage/monthly benefit.



The purchase of an individual plan is an alternative solution. Potentially better because individual disability insurance has benefits available that no group plan I've ever seen included.



Examples include:



1. Residual benefit



2.) COLA



3.) Lifetime benefit



4.) Guaranteed increase options, which can be exercised if group coverage is eliminated.



5.) Catastrophic disability benefit
BNTRS
Senior member
Leave a quick message



Joined: 05 Nov 2009
Posts: 848


15.71 Dollars($)

Quick Reply
Your Name
Subject
Message body
All times are GMT
Page 1 of 1


Get a Quote
Ask Community Experts

flash plugin

Quick Links

Must See

Community

Hot topics in forums

Latest in blogs

    Connection Error: Connection refused