Tennessee Insurance Group: 90-Second Disability Insurance Quote Request

When considering financial planning and Tennessee estate planning, people fail to realize one very simple yet very important thing: their income is their most valuable asset. It′s simple really, the house we live in, the vehicles we drive, and the vacations we take are all paid for by the income that we earn.

While most people in Tennessee have a basic understanding of what it means to be disabled, few understand how significant a disabling injury or illness is and how devastating it can be to a family′s financial security. Here are some statistics:

A disabling injury occurs every two seconds.
National Safety Council, Injury Facts 2004 Ed.
One in seven Tennessee workers can expect to be disabled for five years or more before retirement.
Health Insurance Association of America
Unexpected illnesses and injuries cause 350,000 personal bankruptcies each year.
"Illness and Injury as Contributors to Bankruptcy," Health Affairs, February 2005
Disability causes nearly 50% of all mortgage foreclosures.
"Illness and Injury as Contributors to Bankruptcy," Health Affairs, February 2005
Over 70% of working Americans do not have enough savings to meet short–term emergencies.
National Investment Watch Survey, A.G. Edwards Inc. 2004
Over 90% of disabling accidents and illnesses are not work related [which means they are not covered by workers compensation].
National Safety Council, Injury Facts 2004 Ed.
Only 39% of workers who apply for social security disability benefits are approved.
Social Security Administration, Office of Disability and Income Security Programs

A person′s income—and the lifestyle that it provides—can be easily protected with a Tennessee disability insurance. The following information is provided so that will better understand disability insurance before requesting a quote.

A disability insurance policy will replace a person′s current gross income up to a maximum amount (generally 70% depending upon the insurance company). The amount of income replacement will naturally affect premium. Other factors that affect premium are the proposed insured′s health status, type of employment, job duties, and the type of coverage selected.

One of the important components of any disability insurance policy is the elimination period (the amount of time that must pass before benefits are paid). The elimination period is often misunderstood and viewed as a negative when considering disability coverage. However, when utilized correctly, the elimination period is a powerful tool that can be used to control premium. Many families have money set aside for tough times. Thus, they do not need the benefits right away. In this case, a disability policy with a longer elimination period would make more sense because cash is already available to cover living expenses and the overall monthly premium of the policy would be significantly lower. If you're having a difficult time deciding on an elimination period, then send a note with your quote request asking to see a couple of different options.

There are two types of disability policies to choose from:

Long–Term Disability (LTD)
Short–Term Disability (STD)

Long–Term Disability
A long–term disability policy is designed to replace lost income for a period of time ranging anywhere from two years to retirement age. If choosing between the two types of coverage, long–term is the better choice because of the amount of risk involved. For example, a 35–year–old earning $3,000 per month would lose over $1 million in earnings if unable to return to work before reaching retirement age. A long–term disability policy would protect those earnings.

Long–term disability policies offer several optional riders to enhance coverage:

COST OF LIVING ADJUSTMENT (COLA) RIDER
Increases benefits over time based on increased cost of living as determined by the Consumer Price Index.
RESIDUAL⁄PARTIAL DISABILITY RIDER
Allows the insured to return to work part–time while receiving a partial benefit.
RETURN OF PREMIUM RIDER
Requires the insurance company to refund premium if no claims are made for a specific period.
WAIVER OF PREMIUM RIDER
Waives all premium if disabled for more than 90 days.

Short–Term Disability
A short–term disability policy is designed to replace lost income for a shorter period of time ranging anywhere from six months to two years. This type of policy is less expensive than its counterpart, but because the length of coverage is much shorter, it leaves the insured at risk of losing a lifetime of earnings after benefits have been exhausted.

90-Second Quote Request!
First Name:
Last Name:
Daytime Phone:
Evening Phone:
Zip Code:
Email Address:

Benefit Period:
Waiting Period:
Billing Mode:

Employment:	Full–Time Part–Time
Employer Type:
Occupation:
Income:

Gender:	Male Female
Birth Date:
Height:
Weight:
Tobacco User?	Yes No
Medications?	Yes No

Please provide special instructions or any additional information that would aid us in obtaining the best quote possible.

Disability Insurance Companies We Represent

Please note that this page provides only an overview of the different types of Tennessee disability insurance. The information displayed here is intended to help you request a disability insurance quote. Please refer to your policy for more information concerning your coverage.