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<DIV>
<DIV>In a message dated 1/19/2006 12:58:56 PM Central Standard Time,
jim_busby@byu.edu writes:</DIV>
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<P class=MsoNormal><FONT face=Arial color=navy size=2><SPAN
style="FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: Arial">How much does
“disability insurance” cost? What does it cover? Would Bre=
nt Fischer have been
covered for his hearing loss? It brings a lot of questions to
mind.<o:p></o:p></SPAN></FONT></P></FONT></BLOCKQUOTE></DIV>
<DIV></DIV>
<DIV>I used to sell disability insurance, and there are a lot of different
coverages. Obviously, the better the coverage, the higher the premiums. Here=
are
some examples.</DIV>
<DIV> </DIV>
<DIV>As a standard, Social Security will pay benefits when you are not able =
to
perform any duties of any job after being totally disabled after 6 months. T=
he
payments will continue as long as you are in that condition. How much the
payments are I don't know, but I assume it is what senior citizens are getti=
ng
when they retire. </DIV>
<DIV> </DIV>
<DIV>Insurance companies will sell you insurance that starts paying after yo=
u've
been disabled for as short as a week, or as long as 6 months. They will pay
benefits for a year, 5 years, or life. Premiums are based on the when the
coverage starts, how long it will pay, the amount of payments you get, =
and
the age at which you get it. I have two small policies that will pay me $800=
a
month for 5 years after I have been disabled for 30 days. The premium f=
or
both policies is about $400 per year. </DIV>
<DIV> </DIV>
<DIV>The definition of disability also varies, from not being able to perfor=
m
your "normal" duties, to not being able to do anything in your tra=
ined
profession. My policy says my "normal" profession. In other words, if I did
loose my hearing, my policy would cover me. </DIV>
<DIV> </DIV>
<DIV>There are two very important condition a disability policy ne=
eds
to have. First, the rates will never be increased for any reason. There=
are
companies that sell disability insurance for a low figure for young people,
but the rates will go up every 5 years or so, for the same
coverage. The second clause is that the policy can never be
canceled. Some companies will cancel you after you file a claim. By thi=
s
time, you might have a condition that makes you uninsurable. Obviously =
that
is not good. </DIV>
<DIV> </DIV>
<DIV>I hope this information is helpful.</DIV>
<DIV> </DIV>
<DIV>Wim </DIV>
<DIV> </DIV>
<DIV> </DIV>
<DIV> </DIV>
<DIV> </DIV></FONT></BODY></HTML>