“Don't Wait to Purchase Disability Insurance”

We speak with hundreds of professionals every year who are interested in disability insurance, and the number one mistake people make is waiting too long to apply for coverage. Nearly once a day, we speak with someone who is interested in purchasing disability insurance but is no longer eligible because of a recently diagnosed medical condition – typically an unexpected illness and one that may realistically prevent that person from working at some point.

It is easy for individuals to rationalize why they don’t need disability insurance when they have perfect health, but ironically this is the best time to purchase coverage. When someone is extremely healthy, they are more likely to qualify for standard rates, without requiring exclusions or limitations for pre-existing conditions. As a person’s medical history becomes more complex, the chances of qualifying are reduced.

The most common excuse we hear from people who decide against disability insurance is the high cost, but for just a moment consider the alternate. What is the cost of not having coverage? The average price of a long-term disability policy is 2-3% of a person’s annualized income; which means someone earning $100,000 today, can protect his/her income by paying premiums of $2,000-$3,000 each year. If a 30-year old earning $100,000 today never receives a pay raise throughout his/her career, the earnings potential by retirement age is $3.5 million. So which is more costly, premiums of $2,000-$3,000/ year or the risk of losing $3.5 million in future earned income?

The chart below provides a list of professionals who made the decision to buy disability insurance, and thankfully so. As the chart illustrates, many of these disabilities were suffered just a short while after purchasing a policy. We encourage you to stop delaying and call us today at 800-817-4522 or request a disability insurance quote.

Recently Paid Claims
Occupation	Claim Onset Age	Policy Date	Claim Onset Date	Disability Diagnosis
Accountant	55	9/19/05	11/26/08	Retinal Dystrophy
Anesthesiologist	43	10/25/06	10/23/08	Malignant Breast Neoplasm
Attorney at Law	40	5/03/03	6/01/04	Vertebral Fracture
Dentist	32	4/04/07	12/04/09	Pregnancy
Dentist	42	9/19/07	8/01/09	Multiple Sclerosis
Executive	59	7/21/06	10/13/08	Multiple Myeloma
Manager	49	5/10/06	3/04/09	Fractured Radius Bone
Owner	54	9/15/06	12/8/07	Leukemia
Physician	34	9/24/08	9/11/09	Brain Injury
Physician	44	3/05/07	7/01/08	Esophagus Cancer
Real Estate Agent	44	5/15/08	8/31/08	Huntington's Disease

* Policy terms and conditions may vary, including but not limited to elimination periods.
* A person’s eligibility for disability benefits may vary from the results stated in this table. The diagnoses of these medical conditions alone do not entitle an individual to disability benefits. A person’s eligibility for benefits is determined on a case by case basis according to the terms and conditions of the policy.
* Representative claims paid by Berkshire Life Insurance Company of America, Pittsfield, MA, a wholly owned stock subsidiary and administrator for The Guardian Life Insurance Company of America, New York, NY. Elimination periods vary.

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