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By working with all major carriers and quoting multiple options at each, we are able to present you with all your options and eliminate the hours of online research you would otherwise have to do yourself.

The best time to buy disability insurance is when you are young and healthy. Your eligibility to obtain disability insurance is heavily based on your current and past health. Pre-existing conditions can render you unable to obtain any coverage or they can severely limit the quality of any coverage that will be offered to you. Additionally, rates will be lower when you obtain coverage at a younger age.

If you pay your premiums with after-tax dollars, the benefits will generally be tax free. If you deduct the premiums or your employer pays the premiums on your behalf, the benefits will likely be taxable to you. In most cases, disability insurance premiums will not be deductible to begin with. It’s always best to discuss this with your accountant to determine how your premiums are being paid.

Underwriting is the process used by an insurance company to determine your risk and whether your application will be approved. The insurance company will review:

• Your current and past medical history;
• Your medical records; and
• Financial documents (pay stubs, tax returns, etc), which are examined to justify the amount of coverage you are applying for.

The application process typically takes about 3-8 weeks. If you are able to complete all of the required information in a timely manner, it can greatly speed up this process. Oftentimes, applications that take longer are due to the insurance company’s difficulties when trying to obtain your medical records for review.

If you have any pre-existing conditions or concerns, this should be mentioned to us before applying for any insurance. In many cases, we are able to pre-screen these concerns with the various insurance companies to determine what the expected outcome will be.

If your policy is non-cancelable and guaranteed renewable, the policy benefits will not change as long as you continue to pay the premium.