Disability Insurance?

Do you guys have some kind of disability insurance? I'm wondering what kind of policy would be the most benefical and what it would cost. At my job I have to sit out the first week without pay then I'm covered at 2/3 pay for 3 months. A guy could be financially ruined if anything bad ever happened. I'm out right now for a month with a shattered collarbone, thanking God that it was'nt worse and thinking what if?

Couly

I have what they call "long term disability insurance" thru my work. It pays 60% of my current wages with some predetermined increases for increased cost of living for the rest of my life. I cant remember what it costs per week, but I'll check and post it (its probably less that the cost of one lunch). I also have a HUGE accidental death and dismemberment policy and then a big life insurance policy.

The accidental death and dismemberment policy only pays out if your dismembered or killed in an accident....doesnt do anything if you have a heart attack, but in case of an accident, the benificiaries recieve payment from both the accidental death and dismemberment policy and life insurance policy. I have a wife and two little ones (2 1/2 and 3 1/2) that depend on me. I wouldnt think of riding without the insurance.

Mike

If you have D.I. then break something that puts you out long term it pays 66 percent and is roughly more then you bring home :D

Wait I mean Dont break something to get D.I.

Ok Really Wait :)

I mean if you break something like your Leg or your buddies leg well then I guess if you break your buddies leg you will probably need a new freind, Sorry No Insuranc efor that :D

Get the duck, AFLAC. It pays ya if you have to see a doctor for anyreason. The guy I sit next to at work has AFLAC its only 150 for the year he think and it paid for itself with a trip to the ER when his IMS flightline peg found his shin bone. Check it out.

Hey Couly, Sorry to hear about the bone. I believe disability insurance is essential. As a teacher we get some awesome coverage for about 20 bones a month. In a previous life I sold insurance for a brief time, so I'm not an expert, but if memory serves me, you should be able to get a very good policy for less than $40 a month. In my opinion, a person needs disability insurance that will cover you for life. What if you couldn't return to work in 90 days? Which sounds like your concern now. None of the policys will pay 100% because insurance income is not subject to income tax, so they figure 2/3 is about what you take home now. Also they all have some sort of "cool-off" period without benefits. Usually the first week or as month. This length of time influences the price.

Hope this helps.

GLEN

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