Thursday, August 19, 2010

I'm thinking about getting disability insurance? Any good advice?

I also had a life insurance policy that I stopped paying on temporarily until my finances got back in order after I had my baby. I can't afford a hefty monthly rate. What are some of my options. I'm a single mom and I want to make sure my baby is taken care of.I'm thinking about getting disability insurance? Any good advice?
Disability premiums are based on your age, sex, occupation and the amount of potential lost income you are trying to protect.





Besides minimizing your monthly benefit there are two ways to keep the cost of disability insurance down:





Electing a longer waiting period before benefits begin


If you have enough resources to cover expenses during the first three months of disability, your premiums will be lower than with coverage that starts after 30 days.





Electing a shorter benefit period


In this case, benefits are payable to age 65鈥攖he age at which you would normally retire鈥攊nstead of for a lifetime. However, choosing a benefit period of two-to-five years, ending before normal retirement age, could be penny-wise and pound-foolish. You might save money on premiums, but you could be without coverage when you need it most. Disability of long duration poses the greatest financial hardship.





Check with your employer they may offer optional short term disability as well as long term disability at group rates. If your employer does not offer it I would contact an independent agent who can provide you premium proposals that might be a good compromise between the benefits you would like and your budget.





P.S. Unlike some forms of life insurance you cannot stop paying premiums temporarily - your disability policy will be canceled.I'm thinking about getting disability insurance? Any good advice?
You can get disability insurance quotes from different agents in your area by filling out a quote form at http://www.myinsurancequotes.net. Make sure you are getting the best deal because prices vary alot from company to company.





Jared Balis


http:www.utahinsurance.org
.You should start, by having an investment program for your baby. Give month by month the money you can put away ,without being frustrated and ad disability insurance.


That means if I had an investment program running for the next 20 years and at the 2 year I had an accident, that gives me a disability so big that i can ton work again, the insurance company will continue to pay the money i Had to give according to the contract.


As a result, my child will have the money i was willing to collect and give.


Ask the top. ING Insurance. A gave a similar program to my 1 month baby girl

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