Discussion in 'Disability Insurance Forum' started by Ksutton, Jul 1, 2016.
Are you familiar with Ameritas, and if so what is your opinion?
Would u recommend Guardian for a chiropractor? Also, these "hybrid" life with DI built in, are those a better then nothing solution?
I am sorry to jump in so late on this conversation, but there is much to be added to the question and posts to date.
So, the only Short-term individual policy that I am aware of is with Mutual of Omaha. However, the cost is very high (as it should be). If you have access to group STD (even on a voluntary basis) that would be your best bet. Otherwise, the advice of saving money in a side-fund is correct; however, you will need at least 120-days of money, not 90.
As to the own-occupation, that is the key to all good disability policies. The transitional own-occupation mentioned is weaker than a true own-occupation because if you are working in another occupation you are not getting paid. In addition, you want to make certain that the residual definition allows an indefinite return to work provision.
As was mentioned, Guardian's plan has been the Gold Standard in the industry for years. However, depending upon the occupational classification, Standard and Principal can be very strong too. Mass Mutual also has a strong contract and will cover you if you leave the country (others limit the benefit).
There is much to know about individual disability and the underwriting process. It's great to sell a plan but knowing if the client will qualify is just as important. There are health questions, occupational questions, as well as avocational questions (do you scuba dive, sky dive, etc.).
As for the last post, would you recommend Guardian for a Chiropractor; Chiropractors are not an approved occupation for Guardian. This is where carriers like Mutual of Omaha, Lloyds, and others come into play. Ameritas may take them but I not as familiar with their classification.
No matter where you turn (if you are a consumer) it is important that the broker with whom you work is independent and knowledgeable about disability insurance and the underwriting process. If you are a broker/agent, it is important the agency through whom you write is also focused on disability and just doesn't offer it along with their life and annuity sales.
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