How Does Long Term Disability Insurance Work?
61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaLong term disability traditionally covers you until age 65 against prolonged illness and injury. Many advisers call disability insurance, paycheck protection. Most working Americans have 90 days in cash reserves, so a traditional elimination or waiting period is 90 days before tax free benefits begin. Disability insurance is part of a solid defensive plan and in tandem with term life insurance can deliver the peace of mind workers need.Answered on August 14, 2013flag this answer.JPG)
63333 POINTSview profilePeggy MaceMost of the U.S.You select how long you want your long term disability policy to work when you buy it. You can pick it to last a number of years, or you can pick it to last to age 65. The length of coverage and elimination period will affect the price you pay.Answered on August 14, 2013flag this answer
11783 POINTSContact Meview profileLarry GilmorePROAgent Owner, Gilmore Insurance Services, Marysville, Washington StateHow does long term disability insurance work? Well you get to choose how long before it starts and how long it runs along with features that take effect when the policy is used. All of these aspect effect your cost. Actually long term disability is a very easy product to choose from as you can get a grid of waiting period and payout period on a spreadsheet to help put your policy together. You can choose when the policy starts, when it ends and if it grows with inflation or allows for partial disability and payments.Answered on October 6, 2015+01+1 this answer
0flag this answerview more answers by Larry Gilmore
Did you find these answers helpful?
Yes
No
Go!
Add Your Answer To This Question
You must be logged in to add your answer.
