Comments on: Choosing the Right Disability Insurance Coverage

By: Jerry

Jerry — Thu, 20 Nov 2008 15:37:00 +0000

There are two types of disability policies: Short-Term Disability (STD) and Long-Term Disability (LTD). The Short-Term Disability policies (STD) have a waiting period of 0 to 14 days with a maximum benefit period of no longer than two years. The Long-Term Disability policies (LTD) have a waiting period of several weeks to several months with a maximum benefit period ranging from a few years to the rest of your life. Disability insurance pays an insured person an income when that person is unable to work because of an accident or illness. I hope these information are enough dong 🙂

By: Jerry

Jerry — Fri, 02 Nov 2007 18:15:00 +0000

Long term disability insurance is an absolute necessity, you are correct. Many people, however, overlook the need for short term coverage, to bridge the gap (often 90 days) before long term benefits kick in. Sad to say, but precious few people have sufficient savings or emergency funds to lead them through three months of expenses!
Jerry

By: dong

dong — Fri, 13 Jul 2007 01:30:00 +0000

Yeah, I got a disability policy on top of the one I have work last year, and it was one of the more confusing things I’ve had to deal with. Mostly the riders. Of course I wish I gotten the policy when I was younger before I developed a pinched nerve in my back. The insurance companies never cover preexisting conditions. My condition is not serious and no big deal, but the policy is written in way that excludes basically spinal issues. Insurance companies know how to cover their ass.