Disability Insurance For Internet Marketers?

14 replies
I want to buy disability insurance (you know... if my fingers get cut off and I can't type, or if I go blind and can't read the computer screen).

A friend in the insurance business told me that buying it independently is going to be too expensive, and to look into a trade association.

Anybody here know of any?

Thanks,
Adam.
#disability #insurance #internet #marketers
  • Profile picture of the author Istvan Horvath
    So, what if I know a disability insurance provider "here"? Because for me "here" is Canada, more exactly the province of Manitoba - insurance selling being a provincially regulated business...

    In most countries you can buy insurance only from locally registered insurance companies. I'd be surprised if Norway is different...

    What I mean: it is totally useless to ask about your own local insurance needs in an international forum.

    Yes, I can tell you your friend was right: group insurance is always cheaper because the risks are calculated differently than for an individual.

    Look for some local business associations, clubs, chambers that you could join (if they have group insurance arrangement with an insurance co.).
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    • Profile picture of the author Adam G. Katz
      Doesn't cost anything to be nice, buddy.
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  • Profile picture of the author Istvan Horvath
    The post above is an example of when I am being nice
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  • Profile picture of the author Alex Mensah
    Hi adam, maybe your best bet for now is to store up a private disability fund. A sub section of you bank account that is geared towards accidental injuries right beside the college funds for the kids.
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  • Profile picture of the author tbjason
    Ya I would also like to know this. Very good point, I would hate to lose my fingers or go blind and then my family would be out the income.

    Anyone have any tips for USA residents?
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    • Profile picture of the author Adam G. Katz
      Hi, Zeze:

      We're big followers of Dave Ramsey. I think what you're talking about is an emergency fund -- which is a good thing to have. (We do). But that's generally for 6-12 months of expenses.

      Ramsey also recommends disability insurance, because you could be unable to work for a longer period of time. Years.
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      • Profile picture of the author 4morereferrals
        Originally Posted by Adam G. Katz View Post

        Hi, Zeze:

        We're big followers of Dave Ramsey. I think what you're talking about is an emergency fund -- which is a good thing to have. (We do). But that's generally for 6-12 months of expenses.

        Ramsey also recommends disability insurance, because you could be unable to work for a longer period of time. Years.

        Insurance guy here ...

        Do you have a corp or LLC? Married? CA requires 2 peeps in a corp to make a true group ... not sure what state your in so YMMV.

        AFLAC? But I think they need either 3 enrollments or maybe just 3 products sold [ life, disability on person 1, and perhaps life ins only on person 2 ] in a co to make a plan eligible with them.

        Individual Disability coverage is a challenge for a couple reasons.

        1. The carriers today - definition of your "own occupation" - not like it used to be.

        2. You have to qualify both medically - and financially - they underwrite your W2/1009 income as well as your health history.

        3. By the time you get done giving them tax returns - blood - urine - your soul - you walk away paying them for the privilege of insuring < 60% +/- of your monthly income.

        Before you totally blast the industry - just know there are a ton of highly paid people rollin' solid till age 65 with mere broken fingers and painful lower backs - all the while depositing $10-15k a month from those old school disability carriers because they can no longer perform their "own occ" [ occupation]
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      • Profile picture of the author Adam G. Katz
        Thanks, Kay.

        Yes-- I changed it.

        I had put Norway when I was traveling and forgot to change it back.
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        • Profile picture of the author Kay King
          That explains it - I looked quickly at my desk to see if I was drinking...I wasn't
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    • Profile picture of the author Kay King
      Adam - did you just change your country in your profile? Am I seeing things? I'd swear it said Norway when I first looked:confused:

      In the US, start with an independent insurance agent or chamber of commerce to see if there is a small business owners group you can join to qulify for group insurance. If you have health insurance - see if disability can be added to that.

      kay
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      Saving one dog will not change the world - but the world changes forever for that one dog
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      Please do not 'release balloons' for celebrations. The balloons and trailing ribbons entangle birds and kill wildlife and livestock that think the balloons are food.
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      • Profile picture of the author Istvan Horvath
        Originally Posted by Kay King View Post

        did you just change your country in your profile? Am I seeing things? I'd swear it said Norway when I first looked:confused:
        Yes, he did. I even mentioned Norway in my first reply - based on his profile...
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        • Profile picture of the author Kay King
          That's what I thought - how does one change countries so quickly?

          Oh well, at least I know I wasn't seeing things....
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          Saving one dog will not change the world - but the world changes forever for that one dog
          ***
          Please do not 'release balloons' for celebrations. The balloons and trailing ribbons entangle birds and kill wildlife and livestock that think the balloons are food.
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  • Profile picture of the author stma
    You might be surprised in disability insurance rates. One of the things I had to get because with out me my family would starve eventually.

    (big family)

    Depends on your state really so it's going to be hard to help. Go to ramseys site and look up a preferred provider and make the call.

    BTW - unless one of us lives in your state our trade assoc. are probably different as well. Most insurance is state by state due to licencing and all that crap.
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  • Profile picture of the author cvaughn
    I am an independent agent in Georgia and the laws and guidelines vary. Disability Insurance ST and LT for a healthy individual can be purchased at affordable rates. The one thing you have to ask the agent your working with is to be sure he/she explains your occupation to his/her underwriter. More than anything dont wait TAKE ACTION! If you had a goose that produced golden eggs in your home would you insure the egg or the goose? Well YOU are the goose. TAKE ACTION and get it done. True story I work in the field and have been atheletic most of my life and of course those health problems would never happen to me so I could always see about my insurance needs tomorrow. Guess what, three years congestive heart failure and I am drastically underinsured. Now, if I pass unexpectedly, have I protected my family the way they should have been protected... NOPE. Outside of normal expense, insurance should be the foundation of our financial plan. Beginning with Life, Disability, and LTC!
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