Guaranteed issue LTD for individual?

[nppston]

I am currently covered under my employer's LTD plan. I am thinking of starting my own firm and am looking into various insurance options, including LTD for me and my future employees. I'm concerned because when I start my own firm, I will obviously lose my current employer's LTD coverage and will have to deal with a pre-existing condition exclusion on the new LTD policy at my new firm for 12 months. I am basically uninsurable (my condition is in control but it's an overly complex medical history) on the individual market if medical exam or medical history questions are involved.

So...question is, what can I do to bridge the gap between when I lose my employer LTD coverage and when my pre-existing condition exclusion on my new LTD policy kicks in 12 months later? Are there any guaranteed issue LTD policies out there for individuals (even if I have to pay a higher premium, or even if it's a low monthly benefit so that I would maybe need to string together several such policies to get to a reasonable benefit amount)?

Thanks in advance.

 

[nppston]

Answer to your question is nothing you can do insurance wise on the individual market.

Problem 2, is where did you get this 12 month pre-existing condition idea?

If, and I do mean if....you can get approved, the insurance company will more than likely write an exclusion for what ever problem you got now.

You’ll have to make a new group for you and your employees.

Most group ltd policies I've seen, including the one through my current employer, exclude preexisting conditions if they result in a disability within the first 12 months of coverage. I'm past that date, so if i were to now develop a disability based on my condition, it is no longer excluded.

 

[dgoldenz]

You can set up a Guaranteed Standard Issue (GSI) policy for as little as five lives which offers guaranteed coverage regardless of health history and provides a discount for the entire group. As the employer, you would have the option to pay all, part, or none of the premium for your employees, though it will obviously be easier to set up if you are contributing to or covering their cost.

I did one of these policies on a group of ~10 employees last year which all had health issues due to military history and the only ones we couldn't get covered were those with a VA (military) disability rating over 50%.

The higher the average income, the easier the case will be to write.

 

[nppston]

You can set up a Guaranteed Standard Issue (GSI) policy for as little as five lives which offers guaranteed coverage regardless of health history and provides a discount for the entire group. As the employer, you would have the option to pay all, part, or none of the premium for your employees, though it will obviously be easier to set up if you are contributing to or covering their cost.

I did one of these policies on a group of ~10 employees last year which all had health issues due to military history and the only ones we couldn't get covered were those with a VA (military) disability rating over 50%.

The higher the average income, the easier the case will be to write.

Thanks for the repsonse, dgoldenz. I intend to do this, but the problem with these plans is that they still exclude pre-existing conditions for awhile, usually 12 months. Or are you saying that there are plans that don't have these pre-existing condition exclusions?

 

[dgoldenz]

Thanks for the repsonse, dgoldenz. I intend to do this, but the problem with these plans is that they still exclude pre-existing conditions for awhile, usually 12 months. Or are you saying that there are plans that don't have these pre-existing condition exclusions?

GSI policies do not exclude pre-existing conditions. They are different than group plans. GSI policies are individually owned by each employee, but purchased as a group.

 

[nppston]

I can write you on a great policy. Your PEC will start after 12mo everything else will start immediately. Up to 2million in coverage

E-mail me!

Indicidual, group, or gsi?

 

[nppston]

Er, I meant individual

 

[nppston]

? you need individual coverage, correct?

Ideally, yes, individual LTD that excludes PEC for only 12 months and then covers them after that. If that's what you're able to write, I'd be interested in talking to you further.

 

[dgoldenz]

I can write you on a great policy. Your PEC will start after 12mo everything else will start immediately. Up to 2million in coverage

E-mail me!

Please post details on the forum of this "great policy" product so we can all see what you are selling. I'm pretty sure having 12 posts total and soliciting business is frowned upon here.

I would be very suspicious of any disability insurance policy that will blanket cover "pre-existing conditions after 12 months"....if I have cancer, can I get in on that too?

Edit - I'm pretty sure Shea just got their insurance license yesterday and doesn't know the difference between health insurance and disability insurance. This is the disability insurance forum. Do not post links to Christian healthcare expense sharing websites here.

 

[dgoldenz]

It’s a healthshare and yes you absolutely can! Welcome to Dallas! We are known for the best Health Coverage in America! Please don’t waste my time leaving post. I have people to protect, I am actually a Dr during the day and I refer this to my clients all the time. It has been a great blessing!
If it’s not for you.. so be it! Have a good day!

I sure hope a doctor wouldn't be dumb enough to put themselves in the liability position of selling people an "insurance" plan that isn't really insurance...but hey, do what you want to do, just don't post your sales links here when you've contributed nothing to the forum.

Again, this is the DISABILITY insurance forum. Health sharing is not disability insurance. If you really are a doctor, I'd suggest you stick to saving people's lives and let licensed insurance agents do their job instead of spreading bad information and suggesting products that don't even have anything to do with what the OP is asking about. .