- 5,058
- 8,707
Not to mention the 9 months on average to get your first denial of SSDI.
agent0317
New Member
I had a heart attack and 4 by passes 7 years ago. I went back to work 2 weeks latter. I went from $45000.00 to 21000.00 the next 5 years and had a lot of extra expences. Why did my pay go down? The heart attack, the heart surgery, the drugs I had to start taking...and dreaded depression that goes with major illness. I was always tired and spent hours sleeping in my car while out on the road, and I was only 45 when this happened. CI coverage would have helped,
- 15,041
A good DI policy would have helped more. This is when some kind of partial disability really pays off. Depending on the policy and your work and income history since, you might still be receiving benefits under a good DI plan. Based on the numbers you gave, you would have received half the monthly benefits or more since you lost over half your income.
Agentjane
Expert
Re: Critical Illness Sales Interview/ Script
I like Illinois Mutual and Mutual of Omaha
- 26,126
Agentjane
Expert
I believe that having Critical Illness coverage helped saved my life when I was diagnosed as having a brain tumor last fall.
It's a story that is too long for a post, but I have written the whole thing down in a blog that you can find here. Take five minutes to read it at your leisure.
As you'll read in the blog, my wife and I know seven people through our jobs and our personal lives that have been diagnosed with cancer in the last seven months.
If you are working and you have a mortgage or rent payment, you need CI.
It's a story that is too long for a post, but I have written the whole thing down in a blog that you can find here. Take five minutes to read it at your leisure.
As you'll read in the blog, my wife and I know seven people through our jobs and our personal lives that have been diagnosed with cancer in the last seven months.
If you are working and you have a mortgage or rent payment, you need CI.
- 15,041
Again, I would argue that a good DI policy can do just as much if not more for you. CI should be in addition to DI, not a replacement. You mention being diagnosed in September of 2009, is the tumor still affecting your work and income? If so, a quality DI policy would still be providing money to supplement your income. CI is a one time shot, what if that heart attack left you partially disabled for years? DI would continue to provide money to run your household.
Tumor is no longer affecting my work and income. According to my doctors, the tumor was 95% removed and the 5% that remains is showing no signs of growth. I go back for my next MRI in July.
However, I would agree that CI should be in addition to DI. The really nice thing about CI is the lump-sum payment. With most long-term disability policies, you have a waiting period (e.g. 90 days) ..not so with CI, with CI you get your diagnosis, you get your check.
Bottom line is...everyone should have both.
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