It is your responsibility to see that the DI pays you and YOU pay the payments on time. rem your agreement with the lender stated that YOU would make the payments on a certain date. HOW you get that money is up to you.
A guaranteed renewable disability insurance policy guarantees that you can renew it; in other words, in the event that you do become disabled, and you are collecting disability payments under your policy, they are not going to tell you that since you are disabled, you do not qualify to renew the policy (which, of course, would entirely defeat the purpose of having bought the insurance in the first place, which is to protect yourself from financial hardship in the event that you become disabled).
Yes - that is the purpose of disability insurance. It replaces a portion of your income if you become unable to work because of a covered accident or illness. Contact an insurance agent to get a policy. Coverage needs to begin prior to becoming disabled.
Homeowners insurance does not cover your mortgage if you become disabled. You would need to obtain mortgage protection insurance for that.
Waiver of premium on a life insurance policy or disability insurance policy means that in case of a disability, the insurance company will waive the premiums and keep the policy in force. This is a layer of added protection in case you can't afford to pay the policy due to loss of income in case of an illness or accident. All disability insurance policies include the waiver of premium at no cost, keeping the policy in force while you are disabled and receiving disability benefits. Life insurance policies have the waiver of premium as a rider which usually cost additional premium to add. Consult a life and disability specialist to help you choose the best plans available to you.
No Wal -mart and the Hartford just want your money. they say one thing and do another. It will not take care of you if you become disabled.
Anxiety and depression are illnesses that can impair you from working and earning an income. You can get disability insurance policies that incluse anxiety and depression. Some disability insurance policies will limit the mental/nervous benefits to two years. It is wise to check your policy schedule pages to understand when your policy will pay and for how long, if you ever become disabled and impaired to work.
Approximately 47,000 Americans become so badly injured, that they are disabled each year. This does not include mental health or other underlying illnesses that cause disability.
It depends on the statute of limitations for liability claims in your state. It varies from state to state. Some can be as long as 6-10 years. Some can be as short as 2 years.
If you can afford to keep disability insurance, I would. As we get older, our bodies become fragile, and you want to be fully covered just in case.
Short term disability replaces your income if you become injured or sick and can't work. The benefit period is limited to 3, 6, 12, or 24 months. The policy stops paying benefits if your disability lasts longer than the benefit period.
As soon as you turn 65, you become eligible for Medicare. But since you are disabled I think you should get a disability lawyer to get the money you need.
Disability insurance kicks in when you become ill or get hurt and or unable to work. It's supposed to replace the majority of your income so you can still afford to live. Disibility insurance helps you pay your bills if you are unable to work due to injury or illness.