---------------------- multipart/alternative attachment =20 In a message dated 1/19/2006 12:58:56 PM Central Standard Time, =20 jim_busby@byu.edu writes: How much does =E2=80=9Cdisability insurance=E2=80=9D cost? What does it cov= er? Would Brent=20 Fischer have been covered for his hearing loss? It brings a lot of question= s=20 to mind. I used to sell disability insurance, and there are a lot of different =20 coverages. Obviously, the better the coverage, the higher the premiums. Here= are =20 some examples. =20 As a standard, Social Security will pay benefits when you are not able to =20 perform any duties of any job after being totally disabled after 6 months. T= he =20 payments will continue as long as you are in that condition. How much the =20 payments are I don't know, but I assume it is what senior citizens are getti= ng =20 when they retire.=20 =20 Insurance companies will sell you insurance that starts paying after you've=20= =20 been disabled for as short as a week, or as long as 6 months. They will pay=20= =20 benefits for a year, 5 years, or life. Premiums are based on the when the =20 coverage starts, how long it will pay, the amount of payments you get, and =20= the=20 age at which you get it. I have two small policies that will pay me $800 a =20 month for 5 years after I have been disabled for 30 days. The premium for b= oth=20 policies is about $400 per year.=20 =20 The definition of disability also varies, from not being able to perform =20 your "normal" duties, to not being able to do anything in your trained =20 profession. My policy says my "normal" profession. In other words, if I did=20= loose my=20 hearing, my policy would cover me.=20 =20 There are two very important condition a disability policy needs to have.=20 First, the rates will never be increased for any reason. There are companie= s=20 that sell disability insurance for a low figure for young people, but the r= ates=20 will go up every 5 years or so, for the same coverage. The second clause is= =20 that the policy can never be canceled. Some companies will cancel you after= =20 you file a claim. By this time, you might have a condition that makes you=20 uninsurable. Obviously that is not good.=20 =20 I hope this information is helpful. =20 Wim=20 =20 =20 =20 =20 ---------------------- multipart/alternative attachment An HTML attachment was scrubbed... URL: https://www.moypiano.com/ptg/caut.php/attachments/4f/01/67/59/attachment.htm ---------------------- multipart/alternative attachment--
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