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Disabilty Insurance Anyone?

As I embark on re-planning my life, I am thinking that I really need to get my hands on some disability insurance. I thought to myself, who better to ask than the wonderfully intelligent crowd on AR?

Do any of you carry this and if so...how did you choose your plan?

Like all of you, I don't get paid if I don't work and I want to be sure that I can keep things rolling for my daughters and I if something happens. I live in Western Massachusetts, so I know a lot of your providers won't work for me, but even the knitty gritty of how much you carry, etc. would be helpful.

Any and all advice/input would be great! Thanks!

Posted by Lesley Lambert Real Estate, Realtor, Westfield, MA on 05/02/2008 10:21 AM

Comments (5)

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5 Comments on Disabilty Insurance Anyone?

I don't have and think I should as well. I have put off looking into it because I have pre-existing health issues that may preclude me from getting the coverage.

05/02/2008 10:32 AM

by Donna Marie Godfrey (Kenneth R. Styer Real Estate)

I'm in the insurance business but I'm not licensed in your state. You might want to contact Jack Mann (a fellow Active Rainer). I know Jack covers multiple states and offers various lines of insurance. Hopefully this helps.

Ced

05/02/2008 10:41 AM

by Cedric (Ced) Reynolds - (909) 597-3502 (CedReynolds.com)

Lesley:

I sell Long Term Disability products as well as Short Term Disability products. The key in finding LTD or STD is the definition of disability. To assure you have the least limiting definition of disability I make sure the insurance carrier approached gives the broadest definition.

Depending on the salary we wish to cover the rates vary. Also if there is a high salary there is sometimes a need for multiple policies. If you can run this through a group product (2 or more lives) there is usually a higher benefit with underwriting that is not as strict.

Usually benefits under an LTD policy are 60% of wages with no tax liability to the person receiving the benefits.

Please call me @ 630-546-9303 any time to discuss further.

Thank you.

05/02/2008 04:32 PM

by Jack Mann, Mann Insurance 630-546-9303

Aloha fellow Lambert. My wife keeps telling me I need to get something. I am building our family home and come home with "OWIES" all the time. I think she is right and I do worry about it sometimes when I am working and face an accident waiting to happen.

05/05/2008 03:02 PM

by Patrick Lambert (Century 21 All Islands)

Jack,

Got your message yesterday and I will be calling you next week. Thanks!

05/08/2008 10:59 AM

by Lesley Lambert Real Estate, Realtor, Westfield, MA (Park Square Realty)