DI Products for a Homemaker

[KAR01103]

I am researching information on DI products for a Homemaker.
I'm looking for any companies that cover, definition of disability, etc.
Any information will help, Thanks!

 

[STIBROKER]

I have never known a carrier to sell disability insurance to a homemaker...needs an income...

 

[arnguy]

STI is absolutely correct; however, a homemaker may be a good propspect for Critical Illness insurance.

 

[LGilmore]

Disability income is based on tax returns. A homemaker, while valuable doesn't qualify for disability income as you can't show taxable income on your 1040 for the title.

 

[Cornelius]

Don't quote but I think I heard Illinois Mutual may cover homemakers to some limit..You may have to contact them for verification or maybe someone contracted with them and selling the product may chime in..

 

[VolAgent]

Don't quote but I think I heard Illinois Mutual may cover homemakers to some limit..You may have to contact them for verification or maybe someone contracted with them and selling the product may chime in..

It can be done from what I recall, but you won't like it. They'll want proof the spouse is earning income, and it'll probably be a a low occ class and limited benefit.

 

[scagnt83]

I have heard that IM will do it. I think Principle & Assurity might as well. You could also try Petersen Int/Lloyds.

Some group policies will cover home makers too.

This is a new trend in DI that I would bet will catch on to some extent.


How many times have you guys told a married couple with kids that they need LI on both spouses???

The same underlying need for LI is the need for DI.

I think I remember hearing that homemakers w/ one kid are pegged around $20k-$40k per year depending on demographics, add more kids to the equation and add more $$

 

[arnguy]

Don't quote but I think I heard Illinois Mutual may cover homemakers to some limit..You may have to contact them for verification or maybe someone contracted with them and selling the product may chime in..

I remember that back from a few years ago, but when I checked the IM website there was no indication of that type of coverage.

 

[BNTRS]

Yes, Illinois Mutual does this. Contact them, or contact an IMO/whatever that deals with them.