NLIC.org

Velma Said:

short-term disability income insurance, question about premiuim?

We Answered:

Yes - the longer the duration, the higher the premium.

Joshua Said:

Pre-existing conditions with a private long term disability insurance policy...?

We Answered:

if they increase the premium to cover this pre existing condition, then you should be covered. please always confirm with the insurance company as we do not know if there are any other fine prints.

i am not sure of the definition in question 2 but as i said, always go back to the insurance company to confirm if you are in doubt. if you did not disclose a pre existing condition, i don't think there is any waiting period. i don't think you will be covered no matter when it relapse or when you file for a claim. if you are diagnosed with a new condition during the waiting period, then you are not covered. however, if you are diagnosed with a new condition after that, you are covered.

Minnie Said:

I am a teacher at a public school in Louisiana, why cant i purchase long term disability?

We Answered:

The MOST you can ever collect, under disability, is 70% of your current earnings. So effectively, if the state is paying 50%, as a benefit, any private policy you buy, is only going to pay 20% MAX.

It would be UNETHICAL for someone to sell you a 60% or 70% policy, charging you premiums for that, when in reality, you're only going to collect that percentage, MINUS the percentage the state is paying you.

Since you already have some disability coverage through the state, I'd say you can probably wait to buy a private policy. Usually I don't start recommending that line of coverage until someone hits 40, or they've got a ton of money they don't mind throwing at it.

Darlene Said:

Can someone help me review this Long Term Disability Insurance?

We Answered:

Question. Why are you looking at one plan through one company? A good broker would show you 3 options from 3 different carriers. That's the only way to compare. When you compare you need something to compare it to.

Lydia Said:

What do I say in this Memo?

We Answered:

"Recently, our insurance provider, Cansafe, has informed us that due to the high number of recent Long-Term Disability claims, premiums for the optional, long-term disability coverage will rise substantially. This increase will be on the order of 15%, which will mean an increase of more than 20$ per month. We are alerting you as quickly as possible, concerning this increase in premium on only this one area of coverage, so as to allow you as much time as possible to decide whether to continue your coverage for L T D."
If it is not optional, and your question is not clear on that issue, just reword it to leave out that part, such as ;
We are alerting you as quickly as possible, so you can prepare for the financial change in your the amount deducted for this premium."
It's all in the wording you ask in your question, you already wrote it and in explaining it, did an excellant job!