Advice for Long Term Disability?

Discussion in 'Disability Insurance Forum' started by cmcc77, Aug 3, 2017.

  1. cmcc77
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    cmcc77 New Member

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    i'm looking to get a long term disability policy but dont' know where to begin. I have lots of questions, lol. what's the best way to go about it? what are the options / costs / benefits? what is a good company to go with? do i need an agent? what considerations and future expenses should i think about in choosing? what about health insurance if i'm disabled and can't work? if i become disabled, am i insurable? what about long term care insurance in conjunction?
     
  2. Tahoe Ray
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    Tahoe Ray Well-Known Member

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    Start here: https://highincomeprotection.com/your-complete-guide-to-buying-disability-insurance/

    Disclaimer...this is my website.
     
  3. kpbdy99
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    kpbdy99 Active Member

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    Yes, you need an agent. Find a good, independent agent you can work with who can answer all of your questions, compare several different companies' products, and make sure you get the best coverage based on your specific needs and circumstances. Call some local FEE-ONLY financial planners, and ask them if htey have any agents they routinely refer their clients to for disability coverage.
     
  4. eersfan
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    eersfan Well-Known Member

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    What is your current occupation?
     
  5. David Block
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    David Block Well-Known Member

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    Disability insurance (income protection) is the most overlooked and undersold products in the financial protection chain. The reason most agents do not deal with it is the underwriting is difficult and there are many moving parts. So you really want to deal with an agent/agency that specializes in disability insurance and does not just dabble in it. As was mentioned, you want an independent agent that will evaluate and present multiple carriers to you. Each one has its own pro's and con's to assess. However, the definition of disability is the key in any contract.

    The reason no one can just give you number or approximate cost is it depends on your gender, age, occupation, state of residence, income, avocation (if any), not to mention your health history and near-term plans (are you changing jobs/careers).

    If you are still looking for a broker, you may go to the National Association of Health Underwriters website NAHU and find someone near you that specializes in disability insurance. Or, the NAIFA website http://member.naifa.org/Member_NAIFA_ORG/AgentLocator/start.aspx and do the same thing.

    Best of luck.
     
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