Ryan Before I became a piano tuner, I sold disability insurance for a year. Here's the scoop. First, there are policies out there that contain a non-cancellation clause, and a no increase in premium clause. In other words, you pay x number of dollars in premium for x number of dollars of benefits. The rates will never go up as you get older. But then the benefits never go up either. The non-cancellation clause is important because if you ever do need to use it, the company won't cancel you after they paid out the benefits. The amount of time you have to wait and the number of months you can get the disability benefits are negotiated at the the time you buy the insurance. The waiting time can range from a week to 6 months. Obviously the sooner you get the benefits, the higher the premiums. The length of time you can get the benefits are also set when you get the insurance, from 6 months to life time. The other aspect you want to look for are what constitutes a disability as it relates to your occupation. Some plans say you have to be totally disabled before you are eligible to get the benefits. But there are some high end policies that allow you to get benefits if you can't do your specific occupation. When you talk to you agent the most important part of the disability plan is the no increase in premiums as you get older. That is very important. If your agent doesn't have a plan like that, find a company that does sell that. Wim -----Original Message----- From: Ryan Sowers <tunerryan at gmail.com> To: pianotech <pianotech at ptg.org> Sent: Wed, Dec 8, 2010 6:44 am Subject: [pianotech] disability insurance The "Pain Hurts" thread reminded me that I've been meaning to discuss disability insurance with the list. I've been seriously contemplating carrying it. I worry about getting injured and being out of work for a couple of months or more. With a family of 5 and lots of bills the though of not working for more than a couple of weeks freaks me out. I'm wondering if others carry it, and how much they pay? -- Ryan Sowers, RPT Puget Sound Chapter Olympia, WA www.pianova.net -------------- next part -------------- An HTML attachment was scrubbed... URL: <http://ptg.org/pipermail/pianotech.php/attachments/20101208/3cff9c8e/attachment.htm>
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