I was reading the post complaining about car insurance and was tempted to post there but since it is about a different type of insurance I'll do it separate:

For the last 35 years I've been paying a small amount for a disability insurance policy.... back in April I had a massive heart attack and it looked like I was done with work (I work for myself) and so went through the motions of filing a claim with this insurance company... had to submit about 12 pages of information twice.... after all that they kindly informed me that if I was still totally disable then after 3 months they would start paying me disability... $50 a month.

So what does your policy say?

Most long term disability policies pay after a 30, 60, 90, etc. day elimination period. The shorter the elimination period the more expensive the policy.

It then pays a percentage of earnings or flat dollar amount.

From a claim perspective, there are 3 parts to the claim. Your doctor, your employer (you as you said), and then you as the insured each have a part to complete. Most claim forms have about 3 pages you complete and a little more for both your doctor and you again as the employer.

The carrier then reviews each part to make sure they all "coincide".

I would suggest looking at your policy to make sure you would get what you are supposed to get and best of luck.

Last place I worked offered short term and long term disability. I didn't take it. One of the exclusions was that if I was under treatment for a medical condition coverage for anything related to that condition was denied for 36 months from the latest treatment for that condition. I asked for clarification due to my six month checkups as a result from my X3 bypass in 1998. Anything else they would cover.

In a condensed version of what I was told, if I stopped going to my doctor and did not take prescribed medications for three years on the 37th month they deemed that I was able to be covered for any cardiovascular issues that may occur. Really?

But I could have paid in for nine years and received benefits for my two weeks off after shoulder surgery.......something tells me that would not have been a good investment.

quote:

So what does your policy say?

Most long term disability policies pay after a 30, 60, 90, etc. day elimination period. The shorter the elimination period the more expensive the policy.

It then pays a percentage of earnings or flat dollar amount.

From a claim perspective, there are 3 parts to the claim. Your doctor, your employer (you as you said), and then you as the insured each have a part to complete. Most claim forms have about 3 pages you complete and a little more for both your doctor and you again as the employer.

The carrier then reviews each part to make sure they all "coincide".

I would suggest looking at your policy to make sure you would get what you are supposed to get and best of luck.

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I am self employed as well. After a year of disability you then become eligible for social security disability payments. Your plan is probably integrated with social security so your insurance company will encourage you to apply for it as well if it looks like your disability will extend beyond one year.

As noted it is ALL in the policy. The agent that sold it to you should go over it with you to make sure you are getting what you deserve.

quote:

Originally posted by ZSMICHAEL:

quote:

So what does your policy say?

Most long term disability policies pay after a 30, 60, 90, etc. day elimination period. The shorter the elimination period the more expensive the policy.

It then pays a percentage of earnings or flat dollar amount.

From a claim perspective, there are 3 parts to the claim. Your doctor, your employer (you as you said), and then you as the insured each have a part to complete. Most claim forms have about 3 pages you complete and a little more for both your doctor and you again as the employer.

The carrier then reviews each part to make sure they all "coincide".

I would suggest looking at your policy to make sure you would get what you are supposed to get and best of luck.

^^^^^^^^^^^^^^^^^^^^^
I am self employed as well. After a year of disability you then become eligible for social security disability payments. Your plan is probably integrated with social security so your insurance company will encourage you to apply for it as well if it looks like your disability will extend beyond one year.

As noted it is ALL in the policy. The agent that sold it to you should go over it with you to make sure you are getting what you deserve.

Qualifying for "private disability" is considerably easier than qualifying for "social security disability".

Many private DI policies will have an offset should you get SS DI. That way you won't make more money while disabled vs working. If they didn't offset the disabled person would more likely than not have zero incentive to return to work.

The number used to be 1/10 that applied for SS DI would actually go through the mountain of paperwork, disinterested govt "helpers", and get SS DI.

In fact my father, who was a bricklayer, lost his arm due to cancer. SS DI would not approve him for permanent total disability. Finally, after I reached an actual "interested govt helper", and literally told him; "Sorry to be crass, but to this point no one has understood, his arm will not grow back. He can't work as a blue collar bricklayer etc with only one arm."

There is a whole industry of lawyers and businesses who help people qualify for SS DI. My hope is it's gotten better over the years.

Hope this helps.

The agent that sold me the policy died about 32 years ago....

the only solution I've come up with is to go back to work... imagine that?

quote:

Originally posted by Blume9mm:
The agent that sold me the policy died about 32 years ago....

the only solution I've come up with is to go back to work... imagine that?

If desired, you can always contact the insurance carrier and get a copy of the policy. More likely than not they can just email it to you.