What if you have disability insurance and become disabled can they take your car your credit and still ask for money when the disability insurance was purchased to cover that type of event in life?
It is your responsibility to see that the DI pays you and YOU pay the payments on time. rem your agreement with the lender stated that YOU would make the payments on a certain date. HOW you get that money is up to you.
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If you purchased disability insurance on your car loan do they still have to pay the payment every month if you received social security disability?
Answer . Probably. What does your policy say?
Answer . \nAre you asking about SSDI or a privately held Disability Insurance plan? SSDI will pay for life. If you are talking about DI insurance, it will pay as long a…s the policy allows. Benefit periods range from 6 mos to age 65 in most cases. You would need to reveiw the policy to see what your plan allowed. Also check the definition of occupation, if it is "any" occ, you may not be collecting as long as you wish. 4lifeguild
If you are 62 and on disability are you still covered by your wife's COBRA insurance or will you need supplemental coverage?
If you pay the premium AND if you were "covered" before your wife separated employment then you are. Good question... COBRA is her right to extend the exact same coverage as s…he was enrolled in prior to leaving employment. I think you have 90 days to decide whether you want to extend the coverage. Of course, it's at a higher rate because you'll be seeing the portion that the employer was paying on her behalf plus a small administrative fee but it will be difficult for you to get affordable coverage on your own at your age and that's if you find a carrier that will extend you coverage. I get calls all the time from your age group looking for insurance until Medicare kicks in but it's very difficult. I would recommend going to AARP if you want a hospital supplement or alternative.
If you are on disability and become the beneficiary of a life insurance does it affect your benefits?
When you are in receipt of disability living allowance or DLA as it is also known you will also be on another state benefit such as income support or invalidity benefit and wh…en you receive the money from the life insurance upon which you are waiting you will need to contact your local benefit section of the dhss to inform them of the extra money which you have received as it is by law that you signed a document when you made your application for the state benefit that you agreed to contact them should your circumstances change as will be the case for you and if the ammount of money which you receive is above a certain ammount then yes it could well affect your ammount of either income support or invalidity benefit but as long as you are still qualified to receive one of these benefits even if the ammount drops drastically as long as you receive something on one of these then your disability living allowance will not be affected and you do not have to imform the DLA benefit office of your windfall unless it affects your eligibility for receiving income support or invalidity benefit in which case you need to notify the DLA section of the dhss that your state benefit has been stopped and then because you are not receiving the same benefits as you were before that will make you also unentitled to receive disability living allowance as one of the criteria for being eligible for dla is that you must be in receipt of one of the other state benefits .
Disability insurance covers your ability to earn an income. If for any medical reason (illness or injury) you are not able to perform 100% of your duties of your occupation, y…ou are considered disabled or partially disabled. Depending on the definition of disability on your policy, you may even get paid a disability insurance benefit even if you can still work part time or have a loss of income of minimum 15-20% due to your disability/ health issue.
Of course it is available. The limits are depending on what the disability is. You need to work with a reputable broker.
You can get disability coverage after a disability under certain conditions. It depends upon the cause of your disability and how long you have been recovered. Each carrier ha…s different underwriting standards. Some insurers will offer a guaranteed issue to employer groups. Your ability to get coverage will depend upon the required percentage of eligible employees electing coverage. Obtaining private disability insurance after sustaining a disability may be more tricky, because disability insurance is medically underwritten. From the insurer's perspective, it does not have the same "law of large numbers" with an individual policy (because only one person is insured), as it does in a group disability policy. In most cases, the initial disability will be ridered (meaning that there will be no coverage for it, and perhaps, related causes).
Although Social Security provide you financial assistant but it fails when you some how or other get some disability. In such cases disability insurance can benefits a man. An…y person who can pay for insurance policy can take a disability insurance. Companies pay different disability insurance as per package.
This is an impossible question to answer without knowing looking at your policy. There are many reasons a life insurance policy can be canceled and many ways to keep most poli…cies in force. There is no way to tell you exactly what your are and are not covered without reviewing your exact policy (which is the binding contract that the insurance company must legally be responsible for, CAUTION: VERBAL OR WRITTEN agreements are not what you are entitled to unless those written agreements are bound in the policy itself NOT in the folder or packet with your policy in it). To be sure of what is true for your exact case get a free analysis from a team of professionals, just so there is no surprises. E-mail (email@example.com).
Disability insurance protects a person's most valuable financial asset, the ability to work and earn an income. Most of what people do and purchase throughout their lives wil…l depend on their income and the expectation of their income continuing. People buy Disability insurance, because it insures that if you are not able to work due to an injury or illness, you will still have an income source. It protects you, your family and your future from suffering a financial disaster if an unexpected illness or injury occurs. Think of it this way... If you earn an average of $100,000 per year and work for 40 years - Your income potential is $4,000,000. If someone gave you a machine that was designed to print out $4,000,000 over a 40-year period, would you insure it? We insure our cars and our homes which are worth much less than this. Shouldn't we insure our income, and ability to earn one?
Disability insurance by definition is a policy that replaces a portion of your income should you become unable to work due to illness or injury. The two are the same.
Disability insurance often replaces up to 2/3 of your income. The idea is to keep money flowing in during times you are unable to work, but not to create an incentive for work…ers to stay disabled. Insurers want you returning to work as soon as possible, and shorter disabilities keep premiums affordable. Insurance companies ask if you have other coverage in order to make sure that you won't be making more money while hurt than when at work.
yes in some States. I am not in the disability business so consider the source. But I want to respond that almost anything can be treated as a disability so long as it is n…ot voluntary and it interferes with working a regular job. By 'voluntary' I am making reference to obesity or alcoholism which are often treated as consequences of choice. I know in one document I read many years ago, the determining factor of whether a problem was a disability had to do with how it affected the job YOU ARE TRAINED IN. So my answer to your question is, Yes, it probably is covered. I can't say for sure because I don't know your policy. But the trouble may be in convincing them that the memory loss is sufficient enough to significantly interfere with your work.
It is unclear what you are asking, but I will do my best. If you are asking whether you can buy a car with your disability payments (from a private insurer, Social Security… Disability, or otherwise), yes. Keep in mind, though that that may leave you short for other needs, but it is business decision for you to make. The payer of the disability benefits has no obligation to buy a car for you under ordinary circumstances. It would be the very odd situation that would require a disability payer to do so. Nonetheless, a private insurer may consider doing so as a means of facilitating your return to work and thereby no longer qualifying for disability. In the long run, it may be cheaper for it to go "out of policy" and do this, than paying benefits for a very long time. The contract controls what you can collect under a private policy; statutes control what you can collect under public sources of disability, such as Social Security Disability.
Just about anyone can get term life insurance - as long as they are willing to pay what is asked. Different conditions will cause the price to skyrocket and limit the number o…f companies willing to insure you. Blindness will get you labeled "disabled" but it doesn't raise your premiums near as much as stroke would.
What if you become disable and someone else has a life insurance policy on you who does the money go to?
Nobody, unless you die.