At claim time, there are a couple of forms: the one you fill out, the one your doctor or specialist fills out, and the one the employer may need to complete as well.
The sooner you can get these forms done the better.
If, for any reason you are in this position and are confused and need assistance, please do not hesitate to call me.
In order to qualify for disability insurance, the best plans at the best premium require income and health proof at the outset. These solutions then only need to ensure you are disabled, as confirmed by the suitable physician. You don't want to have to find the financial proof when you are disabled.
As an example, let's say you are a professional IT executive or contracted employee. You can show a good income, and the necessary documentation is sent to the insurer.
They, in turn, are satisfied with the financials and are able to grant the monthly, tax-free benefit you need, and then if you claim, you will not need to prove financial evidence again.
Do you know what the most common question I get from clients is?: How does disability insurance work?
Think of disability insurance as a replacement of your paycheque. You might be paid every two weeks, or once a month, and disability insurance is designed to replace that paycheque when you cannot work - - due to illness or injury - - and cannot earn that money.
Imagine you earn a net pay of $5000 per month. That's $60,000 per year. In 10 years that is $600,000. In 20 years, $1,200,000, and we can go on and on.
If you were disabled at age 40 to 65, how big would your income loss be? No doubt, the figure would be staggering.
There are many myths about disability insurance that disturbingly is shared by many people. The biggest is that some believe that disability insurance tries to avoid paying you, and they look for ways to avoid it.
To that I say balderdash! I have in my career helped people solve this issue, and most times it is an information breakdown. The key is to give the insurer the information they need to satisfy requirements. Sometimes the attending doctor does not understand the line of questioning on the claim form, thereby not giving a true picture of the nature and extent of a disability.
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