EZDIQuote. Long Term Disability Insurance & Disability Insurance Plans

Disability Insurance Protects Children’s Futures

admin — Wed, 16 Jun 2010 15:50:40 +0000

Most of us who are parents dutifully put away money every year for our children – for their education or whatever future goals they wish to pursue. Just as we put away money for our retirement, and fund life insurance policies, IRAs and our other investments, we look upon this kind of savings plan as a way to responsibly lay the foundation for our kids and protect them as they venture out into the world for the first time.

It’s been said, however, that even the best laid plans are vulnerable to the ebb and flow of life; and our finances are just as vulnerable. We may have particular financial plans in place, but this doesn’t mean that they will be carried out that way, especially if a household earner becomes ill or injured and is unable to continue their job and earn the paycheck they have become accustomed to earning. In such cases, everything from savings accounts to college funds are vulnerable in order to help keep a family afloat.

Disability insurance plans, however, are meant to protect such financial savings by providing a monthly “wage” in place of lost salaries to those who are injured or become ill.

Disability insurance is offered through a number of different programs; everything from short term insurance to long term disability insurance that is meant to provide coverage up until the traditional age of retirement. Policyholders essentially choose the plan that will provide enough coverage to replace the amount they are currently bringing home on a monthly basis. It is essential for potential policyholders that are just determining their best policy to be sure to calculate all of their monthly expenses – everything from mortgage payments and utilities to food and clothing. By providing themselves adequate coverage through disability insurance, policyholders are not only making sure their family is protected but also protecting the savings they have worked so hard to accumulate for their children’s futures.

Disability Insurance Offers Protection for Unexpected Events

admin — Thu, 03 Jun 2010 15:56:09 +0000

Change is inherent in life; the only thing that we can expect is the unexpected, and the best we can hope for is the grace and fortitude to weather life’s unforeseen events. Of course, there are things that we can do in order to at least offer some sense of preparedness. People buy life insurance for this reason; we surely hope that our family will not have to collect on the policy while we are young, but in the event of our untimely death we know that our loved ones will be financially protected. If only people gave as much thought to disability insurance – another important measure of protection that is just as significant to a family’s financial survival.

Unfortunately many people consider their death far more often than they consider the possibility of their incapacitation. The fact is, however, that injuries that have a long term impact on the victim’s life are more likely than their death at a young age. So it stands to reason, that people of any age who wish to protect their families from the loss of their income should explore the possibility of a long term disability policy.

Disability insurance provides income for those who are unable to work due to injury. When you consider your family’s financial stability – or lack thereof – if the primary earner is unable to return to their current employment – either temporarily or permanently – it is easy to understand the importance of a well thought out disability income insurance plan.

There are a variety of long term disability insurance plans available for those who wish to provide protection for their family in the event of an injury and subsequent loss of income. The amount of disability insurance coverage chosen depends on the policyholder’s current income and how much they would need to live as they have been on a monthly basis. A reputable disability insurance professional can walk a prospective policyholder through the entire process of developing an adequate plan.

When Group Disability Insurance Plans Are Not Enough

admin — Thu, 03 Jun 2010 15:52:30 +0000

Many household earners have considered a disability insurance plan in terms of protecting their family in the event of their own injury and subsequent loss of income. In fact, there are some disability insurance plans that are offered through a person’s employment that provide at least some disability insurance coverage. In such a situation, policyholders may believe that this coverage is more than enough to see their family through a financial crisis should their primary income disappear. But when you look more closely at the details of such a policy, many are likely to find that most of these group policies fall far short of being able to fully protect their family.

Many group disability insurance plans offer disability coverage for their employees only if their injuries occur at work. In other cases, the disability insurance provided is significantly limited – offering only short term coverage or coverage amounts that are inadequate for sustaining their household. For this reason, many consumers find that they must supplement their disability insurance coverage with an individual plan.

Supplemental disability insurance plans will cover those policyholders that are injured under any circumstances and in any location – even if it’s not in the workplace. Further, individual disability insurance plans are able to provide comprehensive coverage for policyholders; the amount of the policy is determined by the policyholder and is based on their current monthly income and what is financially adequate to meet all financial obligations on a monthly basis should their income be disrupted.

Comprehensive disability insurance plans will protect the household in the event of a catastrophic injury that prevents primary – or even secondary – earners from reentering the work world. By working with a professional disability insurance plan provider who understands the industry and the amount of coverage that will be sufficient and affordable, prospective policyholders can purchase a policy with peace of mind.

Determining the Amount of Adequate Disability Insurance

admin — Tue, 16 Mar 2010 15:34:28 +0000

Just as we go through the steps to ensure that we have adequate life insurance coverage should something happen to us, so must we go through similar steps to ensure that we have enough disability insurance coverage should we become injured or ill. While many companies offer disability insurance plans to their employees, they are often far from substantial in providing adequate coverage. Therefore, it is often necessary to purchase additional individual disability insurance to protect the policyholder’s family in the event of the unexpected.

Essentially, if the policyholder is injured or becomes ill and is no longer able to return to work, the disability income insurance they have purchased will take the place of missed wages. The most significant part of purchasing a policy, therefore, is determining how much disability insurance is enough to sustain a family – either temporarily or until the age of retirement – if a paycheck is suddenly gone.

Therefore, potential policyholders should consider:

* The amount they pay out on a monthly basis in terms of mortgage payments, utilities, food, fuel, debt, and any other household expenses. This is an absolutely critical part of the process of applying for disability insurance. Consumers must be relentless in determining their monthly expenses, leaving no stone unturned, and being honest about what they spend. Putting everything out on the table will allow them to make more educated decisions.

* Their age of retirement. The average age of retirement is sixty-five but this certainly doesn’t hold true for everyone. Long term disability insurance policies are generally meant to cover policyholders up until the age of their retirement when retirement investments, savings, and pensions take over. Knowing the reality of their situation makes for better planning.

* Their budget. While we would all certainly love to have all the insurance we want, sometimes it’s unaffordable. Working with a reputable disability insurance agent will allow applicants to balance their insurance needs with their financial guidelines.

The Pros and Cons of Company Provided Disability Insurance Plans

admin — Tue, 09 Mar 2010 15:51:01 +0000

When most people think of disability insurance they think of the disability plans that they are offered through their jobs. While this type of disability insurance is certainly beneficial in that it provides at least some semblance of protection should the employee become ill or injured, these disability insurance plans often have significant shortcomings that policyholders should examine closely. Such is the reason that so many people – even with company disability insurance plans in place – choose to protect themselves in a more comprehensive manner through individual disability insurance.

With company disability insurance plans employees are afforded the benefit of affordability. In some cases, employees are even given a small amount of disability income insurance at no charge. The problem is that the company may only offer disability insurance plans wherein the definition of disability is vague and will often only provide coverage if the policyholder is unable to complete any occupation following their illness or injury.

The reason that many people seek out individual disability insurance is because they can write the policy so that it makes sense for their own personal situation. Individual disability income insurance policies are offered through a variety of programs that will suit the policyholder in terms of providing coverage for longer periods of time and with broader definitions of disability. There are even those disability insurance policies that will continue to cover the policyholder if they are unable to continue their regular job due to illness or injury but are able to earn a wage doing another kind of job in another industry.

Disability insurance is meant to protect families in the case of a loss of wages due to injury or illness. But without examining the details of the disability insurance policy policyholders are left vulnerable to possible stipulations that will affect the policy payment, the length of time they are covered, and the conditions under which they are covered.

The Process of Getting Disability Insurance

admin — Wed, 24 Feb 2010 18:45:46 +0000

There comes a time in every adult’s life when they understand the need to put certain provisions in place should anything become of them. After all, with families depending on our income – now and well into the future – a death or disability can mean financial disaster for an entire household, on top of the emotional turmoil that they will undoubtedly already be experiencing. The point of insurance – life insurance and disability insurance – is to take the financial burden off of the family so that it is not just another component with which they have to deal during this already trying time.

Life insurance is self explanatory and is absolutely necessary to protect families in the event of the policyholder’s death. But while life insurance is generally accepted as a necessity, disability insurance – for untold reasons – is often looked upon as more of an option. However, when you consider that nearly one out of every seven people will become disabled by the time they reach their mid to late 60s, you begin to understand just how crucial disability insurance is to protect families.

The process of getting disability insurance is very similar to applying for a life insurance policy. The prospective policyholder will work with a knowledgeable disability insurance representative that will go over all of the different plan options. This is the most important part of the process, as there are short term disability plans, as well as long term disability insurance. It is essential that the policyholder accurately scrutinize exactly how much they will need on a monthly basis – should they become sick or injured and not be able to perform their job – to support themselves and their family. Long term disability insurance will generally cover policyholders up until the traditional age of retirement.

Once a disability insurance plan has been chosen, prospective policyholders will be asked to submit to a medical exam by one of their licensed medical practitioners. This is a general medical exam and can be completed within the prospective policyholder’s home.

Insurance Resources

admin — Mon, 08 Feb 2010 19:44:06 +0000

EZDI Quote is an exceptional place to purchase Disability Insurance, but did you know that there are other resources that can assist you with Automobile, Home and even Pet Insurance? To feel protected you should be covered in all assets of your life. Mortgage Insurance, Health and Dental Insurance can possibly cover out of pocket costs that that could otherwise diminish your funds. And Renters Insurance, Trip Insurance and Funeral Insurance are all options that we don’t often think of, but not having this coverage could really hurt your financial plan. Researching Insurance may not be the most exciting part of our day, but in the end, if you are faced with a fire, accident, sick pet or other curve ball life throws at you, you will be happy you did!

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Disability Insurance Plans Put Things in Perspective

admin — Mon, 08 Feb 2010 15:44:19 +0000

A part of living our lives responsibly is preparing for possible occurrences that could impact our family’s ability to live comfortably. Life insurance is one such way in which we protect against that which we cannot possibly anticipate; should something happen to us unexpectedly, our life insurance policy will ensure that our family is taken care of through the payout of the policy. Health insurance is also significant in this capacity; protecting us against any possible illness or injury that may arise. Further, disability insurance allows us to put things in perspective in regard to ensuring that important elements are put into place to keep our family protected.

Disability insurance plans help people plan for the unexpected in terms of illness or injury. Should a policyholder become ill or injured and not be able to return to work, a disability insurance policy will pick up where the paychecks left off; allowing families to continue to live comfortably regardless of whether or not they are able to earn their current salary.

There is much that we do in order to protect our children and our families; disability insurance is simply another component in this care. For those who have not as of yet purchased a disability insurance policy, the time is now. Consider the following when deciding whether or not you need a disability insurance policy:

* One in seven people will become disabled for five years or more by the age of 65.

* How many months would you comfortably survive without your current salary? With most of us living paycheck to paycheck, there are few among us who would be able to stay afloat without our current wages.

* How will you protect savings – retirement, personal, college – without a comprehensive disability insurance policy? Most people who become disabled and are unable to return to work wind up depleting these savings in an effort to stay afloat. What does this mean to your future or the future of your children?

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Disability Income Insurance Protects a Home

admin — Mon, 01 Feb 2010 16:26:46 +0000

For most of us, our homes are the biggest financial investment that we will ever make; an investment that we need to protect as best we can. Throughout our lifetime there are a myriad of things that can happen that can endanger our ability to pay our mortgage, and before we know it we could be in a position where we are facing a foreclosure. When we consider the fact that most of us would be in serious financial trouble if anyone in our household were to lose their salary, then it becomes clear very quickly just how important it is to make allowances for those circumstances that we may not be able to anticipate.

Disability income insurance is a protective feature chosen by many people who want to protect their earnings should they experience an illness or injury and not be able to return to their current job. A loss of salary could be financially devastating for a family, and so policyholders put disability insurance into place so that they are not financial vulnerable if their physical (or in some cases, mental) condition causes them to have to leave work either temporarily or permanently.

Clearly the benefits of disability income insurance are numerous and most policyholders understand that by enacting a disability insurance policy they are protecting their family’s ability to continue to live their life comfortably. But beyond the ability to pay utilities, buy food, and pay for the day to day expenses that come with living a life, disability insurance allows policyholders to protect their financial investments. This protection is extended to everything from savings accounts and 401k investments to college savings and IRA accounts – anything that we would have to quickly access and ultimately deplete if we found ourselves without a salary for an extended period of time. But beyond that, disability insurance protects our largest financial investment – our home – from vulnerability.

Things to Consider When Looking for Disability Income Insurance, Part II

admin — Mon, 25 Jan 2010 16:56:30 +0000

In the last post we discussed the importance of disability income insurance, as well as the importance of shopping for such insurance by comparing similar elements. First and foremost, it is essential that potential policyholders ensure that they are working with a company that is reputable and has a solid reputation in the industry. From there, potential policyholders can examine the offerings by each of the companies in question and ask the appropriate questions such as the definition of a disability according to the terms of the policy, the length of time the policyholder may have to wait before they are able to receive benefits, and the need for medical exams going forward.

Some of the other things to consider when examining disability insurance include:

* The length of the policy in question. Not every disability insurance policy is the same; the terms are different from one policy to the next. You may be interested – or only able to afford – a shorter term policy; or you may be interested in a long term disability insurance policy that will cover you up until the age of traditional retirement. Make sure you are comparing similar policies when you are comparing prices.

* The amount received should the policy go into effect. If a disability does arise and you are forced to enact your policy, you need to know how much you will be receiving. Every disability insurance plan is different; be sure you understand all the details of what you are getting under your plan. It doesn’t make sense to purchase a policy for which you cannot afford to pay the premiums; the trick is finding a balance where you have the appropriate amount of affordable insurance.

* What, if any, are the exclusions of the policy. Some disability insurance policies come with exclusions written into the plan that may affect the amount you receive or for what you will be covered. Take the time to get to know your disability insurance plan intimately so that you know what could affect your ability to make a claim.