Insurance Info

Finding the right SSDI representative can help you get through the Social Security disability backlog faster. But first, you need to know what to look for before making this important decision.

#1: What are your options if you want to hire representation?

Typically, there are two major types of paid SSDI representatives: specialized organizations, which has multiple representatives and specialists experienced in handling SSDI claims in local communities across the country and law firms that may or may not have attorneys solely dedicated to SSDI claims.

#2: How knowledgeable and experienced is the organization in representing individuals applying for SSDI? Continue reading ‘Social Security Disability Representative – 10 Questions to Ask’ »

Maternity disability insurance is one plan that all working women should know about. Being pregnant is not technically a disability because it does not really impair the working capability of women. However, there are instances that some pregnancy conditions would prevent a woman from going to work.

There will be times that she’ll suffer morning sickness, nausea, vomiting and other conditions related to her pregnancy. Doctor would then usually order her to stay in bed and not go to work. This is where the benefits of maternity disability insurance come in. She will continue to receive a portion of her income which she can then use to pay bills, doctor visitations or hospital stay.

Here are some things that you should take note of before you apply for a plan: Insurance agencies views pregnancy a pre-existing condition. This means that if you are already pregnant when you applied then it would not be covered by the insurance. Instead, the plan will be effective only on your next pregnancy. If your job makes use of a disability insurance for its employees, you still have to inquire if maternity is covered in the plan. Take note that maternity leave and maternity disability insurance are two different things. Continue reading ‘Maternity Disability Insurance – For Mothers Who Care’ »

So who decides if you are disabled? Your insurance company does of course. Therefore you need to pay special attention to the details in your policy. By reviewing this list of definitions you will be able to better understand your disability insurance policy.

Own Occupation: This means you are disabled and cannot perform the regular duties of your usual job, even if you could do some other job.

Any Occupation: You are considered disabled if you cannot work at any job that you are currently qualified for by training, education and experience.

Total Disability: You are disabled and unable to work at any job. Continue reading ‘Examining Your Disability Insurance Policy’ »

If you are considering purchasing disability insurance, you may be wondering how you should go about choosing a provider that will best meet your own needs and goals — both today and in the future.

Through this article, you will be provided with some basic information about how to choose the right insurance for you — again, today and into the future as well. Of course, this article is designed only to provide you with a basic overview about it. If you want more information about disability insurance, there are some resources provided for you later in this article. You will want to pursue these supplemental resources in your own search for the appropriate insurance policy for you, for the disability policy that will meet your needs now and later.

Visit with an Insurance Professional

Being as disability insurance is such a technical type of product, it really is important for you to meet with an insurance professional in your search for it. You really will not want to make decisions regarding insurance policies and coverage without the aid of an insurance professional at your side. These insurance professionals have the experience necessary to aid and assist you in finding the insurance policy or product that will provide you the coverage that you need. Continue reading ‘How to Choose Disability Insurance’ »

The workers’ compensation system is intended to help injured employees address the financial effects of a workplace injury. As such, it is designed to serve as a temporary measure that fulfills a very specific set of needs for an injured worker and his or her family. But in instances where one suffers from an illness or physical ailment that leaves them unable to work for a significant length of time, it is instead the Social Security Disability Insurance system that supplies the necessary relief. The two primary forms of disability are Temporary Partial Disability and Permanent Total Disability.

Since the determinations regarding benefits are made by a government agency, the bureaucratic hoops through which a disabled person must jump are considerable. The filing process is lengthy, and the vast majority of claims are denied upon receipt and review of the initial application for benefits. Commonly, these rejections are due to minor procedural and clerical errors of the submitted claim. But although they can be easily corrected once the problems are drawn to your attention, it still may delay the final approval and distribution of benefits for months, forcing your family to dig deep into savings if you have them.

The Quirks of the Filing Process

One key distinction between the workers’ compensation system and the SSDI benefits scheme as that eligibility for SSDI benefits does not require that your injury have been sustained in the workplace or in the performance of work related tasks. This is a fact that is often confused by workers who are unfamiliar with the structures in place to protect them if they become seriously hurt and one that is essential to ensuring that the appropriate steps are taken in the time allotted by the law. Some important statistics about the disability process to bear in mind are:

* Approximately 30 % of claims are initially approved
* 15 % more are approved upon application for reconsideration
* Nearly 60 % of claims that reach the hearing phase after appeals are approved
* It can be more than 18 months from your initial filing until a final determination is made Continue reading ‘Understanding Temporary and Permanent Disability’ »

Most people would never imagine owning a house or vehicle without insuring it. People’s homes and cars are valuable assets and they naturally want to protect themselves. These same people often do not have adequate coverage (or any at all) for their largest most valued asset — their income!

Successful people consider more and more to secure their income in a case of a disability. Why do they do it? Because without proper planning, an unexpected disability can quickly exhaust their savings and create a substantial debt. Their income is essential to them and gives them their freedom. A 39 year old man for example: with an annual income of $60,000 and an assumed annual increase of 3% of his salary could lose up to $2,313,000 income if he gets totally disabled. It is evident that the need for income replacement is universal–yet many people don’t have this valuable coverage. The following statistics illustrate the need for income protection in the United States:

In 2003 alone, there were 3,400,000 disabling injuries, this breaks down to:

• 65,385 a week,
• 9,341 a day,
• 389 an hour and
• 1 every 10 seconds! Continue reading ‘You Play the Lottery But Have No Disability Insurance?’ »

If you are a female professional that is in the market for Long Term Disability insurance, you probably have realized that disability coverage for women is fairly pricey. Due to a higher claims history with women, insurance companies usually charge 30-40% more for women than they do for men. As a female professional, it is important that you learn about the different ways that you can save on your premiums without having to sacrifice the benefits.

Most people looking for individual Disability insurance will do so either because they are self-employed or because their employer does not provide coverage for them. Whether you are a female business owner or a female professional working for a small, medium or large business, you could qualify for significant savings on your Disability insurance premiums. The following are two techniques we often use for our clients. Continue reading ‘Save Money on Disability Insurance Premiums As a Female Professional’ »

Paul Sullivan of the New York Times in April of 2009 wrote an article in the Wealth Matters section titled “Never Mind your 401(k). How’s Your Insurance?” Mr. Sullivan starts his article with a very simple yet powerful sentence, “Insurance is the least sexy asset in most portfolios.” Why is this simple, straight-forward sentence so powerful? Because it is true and drives the sub-conscious perception of insurance in almost every American’s mind.

When you purchase insurance you are buying an intangible product, you are buying a promise. So when the average American thinks about insurance their first thought is going be a tangible object, something they touch or hold that they can picture in their mind being replaced after an accident (i.e. Home & Auto). Similarly most people understand that death is an inevitable event and thus can wrap their brain around the idea of their family being financially reimbursed after death (i.e. Life).

However, in the case of Disability insurance, many Americans struggle to understand the significance of the coverage this product represents. Unlike death people have a hard time imagining the scenario that renders them disabled. What these individuals do not understand is that one in seven US workers will be disabled for five years or more before retirement (from the Health Insurance Association of America, published in the New York Times). Look around your office, count yourself and six co-workers. One of you is going to be disabled for five years. If you are the one that becomes disabled, can your family sustain that type of long-term reduction in income? Continue reading ‘Disability Insurance – Not Sexy – Very Important’ »

This Information about the 4WD area (all Currituck County areas north of Corolla proper) on the Outer Banks of North Carolina is being provided to help consumers avoid making a mistake when purchasing real estate.

Flood Insurance Availability

There is no NFIP flood insurance available to any owners in the 4WD area. NFIP is the public, cheap, easy-to-obtain federal/FEMA flood insurance available to owners everywhere else in the entire Outer Banks, except for one small section of Hatteras Island and also the tip end of the Villages at Ocean Hill subdivision in the Corolla paved road section.

Flood Zones

The entire 4WD area is a COBRA Zone (Coastal Barriers Resources Act) in which the federal government doesn’t want any development of any kind, but cannot prevent it. The three 4WD areas are Swan Beach, North Swan Beach and Carova, and each has federal preserve land between it and the next section, hence the lack of paved roads.

The flood insurance situation is key because ALL federally-backed or -insured mortgage lenders require owners to carry flood insurance if the dwelling lies fully or even partially within any FEMA flood zone other than zone X. Flood zone X is the highest elevation within the entire Outer Banks regional federally-designated flood hazard area. Continue reading ‘Flood Insurance Problems North of Corolla, NC’ »

Physicians buy individual disability insurance a lot, and there are several reasons for it. No other occupation can say that a larger percentage of them own individual disability policies. During residency you probably saw at least 5 or 6 agents give lunch and learn seminars on practice management and insurance, and most of them addressed individual disability insurance with you. You are also in an occupation that sees disabilities every day, none of you are foolish enough to believe you’ll never become disabled. A computer consultant might not own DI because they believe if they can think and type that they can work, you on the other hand know better. Nobody is doing a lot of anything during cancer treatments, or because of severe back problems preventing you from sitting in a chair. Now that we understand a little bit more about why so many physicians own disability insurance, let’s dive into what a physician should be looking for in a personal DI policy.

Own-Occupation Definition of Total Disability With Medical Specialty Language
Every policy is going to have a definition of total disability, it is the legal language that dictates when the DI policy will pay you a total monthly benefit. To read this definition, just open up your policy and read it. If you are evaluating several policy choices in the buying process, ask your agents for specimen policies. Don’t just assume you have an excellent definition of total disability because somebody told you it is, read it in the policy, or in the specimen policy. The definition of total disability is what dictates whether or not you have an own-occupation, a modified own-occupation, or a gainful occupation disability insurance policy. Continue reading ‘The Specifics For Physicians – Why Own-Occupation Disability Insurance?’ »