Agent Owner, Gilmore Insurance Services, Marysville, Washington State
How hard is it to get disability insurance? Well let's qualify it this two ways. First is it hard to get a poor disability policy? No, it's really easy and as long as nothing happens to you, you'll never know if was money wasted or not. If something happens however, that's when you find out.
The other choice is a good disability policy with a real solid definition of disability that doesn't find ways to reduce or even take away your benefit. Those will be hard to get, underwritten tightly and work fantastic if needed. Why so hard to get? A payout on a disability policy that has that strong definition could pay out into the millions when a COLA rider is attached to it and with the strong definition, a person could still collect while working in another field. The RISK to the insurer is high, so they underwrite tight.
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The other choice is a good disability policy with a real solid definition of disability that doesn't find ways to reduce or even take away your benefit. Those will be hard to get, underwritten tightly and work fantastic if needed. Why so hard to get? A payout on a disability policy that has that strong definition could pay out into the millions when a COLA rider is attached to it and with the strong definition, a person could still collect while working in another field. The RISK to the insurer is high, so they underwrite tight.