Calculating the Disability Insurance Cost

So you're out there to get disability insurance but you have no idea how much these plans normally cost. You can canvas through the insurance companies and compare which plans provide you with the best rate that go with your lifestyle and budget.

Normally, disability insurance cost is 1 to 3 percent of your annual salary. This is for a good disability plan. That means if you are earning $60,000 in a year, your disability insurance cost is $600 to $1800. If you think about it, it is a good price to pay for assurance that you can expect money in a period of your life when you are unable to work.

At least by paying the insurance cost, you can get the money that you need at the time when you need it the most.

It provides income that will help you pay off your living expenses if you cannot work for a significant length of time due to illness or injury. The benefit payments can amount to 60 percent of your total salary.

That is why most employees stay with corporations that offer this benefit. One does not know what the future has in store. Like what they say, it's better to have it and not need it that need it and not have it. Because of this more and more employees are investing in it.

But the cost also has policies regarding the waiting period of when this will take effect. The pay benefits also depend on the longevity of the plan. This is for the short-term disability insurance cost.

As for the long term disability insurance cost, the waiting period is longer. It can even last for months. As for the benefits, it could be paid in a couple of years or for the rest of the borrower's life. The waiting period and the payment period really depend on the plan and as stated in the policy terms.

These also depend on the state. Different states have different policies and terms regarding the disability insurance cost, waiting period, and payment period. For examples, New York, New Jersey,, Hawaii, and Rhode Island require their employers to give them disability benefits of 26 weeks maximum.

Some employers give their employees short term disability insurance even when the employees have paid the premiums.

But just like any bargain, there is a catch to disability insurance cost. The premiums are lower for plans that have longer waiting periods. If the employee can wait, then he can opt for these plans. He just has to make sure that nothing happens to his health before the plan takes effect.

Disability Insurance - Four Rules

You can ask any financial advisor what is the most often overlooked type of insurance that people should have, and almost all will tell you it's disability insurance. Many people ignore disability insurance in comparison to life insurance. However, the problem is that there is a much higher probability that you will have a long-term disability than there is dying before the age of 65. In fact, if you are between the age of 35 and 65 there is a 50% chance that you have been, you are, or you will face a long-term disability. Below are some of the rules of thumb you want to follow when trying to find good disability insurance.

#1: It Should Cover At Least 60% of Your Income
Good disability insurance will cover at least 60% of your income. Anything on top of that is great, but anything below that may not be enough to get you through a rough time. Generally people live with so much debt, that anything less than 60% isn't adequate protection. The exception would be if there are two people working and one becomes disabled.

#2: It Should Have an "Own Occupation Policy"
Many times these disability insurance policies have a clause that requires "any occupation." This is generally referring to the fact that you may be required to change your line of work for your insurance coverage to pay out to you.

#3: Should Have a Lengthy Benefit Period
Another trick that many disability insurance companies will play on you is that they will have a high payout in terms of percentage of your income, but you might get the money for far less time. Which would you rather have: $700 per month for 6 months or $650 for a year? These are the factors you have to look at. Generally, you should always go for the lengthier benefit period regardless even if you have to take a decreased amount per month.

#4: Short Waiting Period
A lot of times what these insurance companies will do is make you wait a lengthy time before you ever receive your benefits. So while the benefit period may extend to a year, you have to wait 6 months before you ever get your first check. Generally, shorter waiting periods are more expensive and this may have to be determined by your wallet. However, it is something you should be aware of before picking a disability insurance provider.

Disability Insurance - A Very Important Insurance Policy

More than likely if you have life insurance and suddenly die, you can count on the debt you left behind being paid off. However, most people do not really think about how their family financial situation will be handled if they are simply injured and unable to work. Could your family continue to put food on the table, pay the rent, obtain medical care, and other necessities if you no longer had an income? You might think somehow that social security will cover it, or the government has some sort of disability program. The odds are however that you won't qualify.

The scariest part of becoming disabled and unable to work, is that it has a higher probability of occurring than dying. Yes we all die eventually but did you know there is a 30% chance that if you are above 30 years old you will be unable to work for a significant period of time between now and the time you are 60? This is a simple statistic that most people overlook but may have to face at some point in their life.

When you think of your monthly budget, seriously consider including the cost of disability insurance. It is not as expensive as you might think. Most insurances agents sell the more common types of insurance such as term life, liability and auto insurance. However, if you are looking for a smart business decision, this is one of them. Even if you never get injured, it is a good precautionary measure. However, if you do get hurt you will be able to stay afloat and not incur debt or have to dip into retirement savings. You will probably never regret having disability insurance. It is always a wise investment.

What is Disability Insurance, Why Do I Need it and is it Affordable?

It seems like everyone is talking about life insurance needs but neglect the consideration of disability insurance. Did you know you are more likely to get injured on the job and not be able to work and draw a pay check than you are to be injured on the job and die because of that injury.

When you are injured your bills do not stop coming, the mortgage, electricity, water, gas, food, automobile payments, health insurance, etc. still have to be made whether your able to work or not. This could be a tough break for most of the working population, who are usually living from paycheck to paycheck just to make ends meet.

For some reason we are not informed about this scenario until we are smack dab in the middle of a life changing catastrophe like an injury, and life doesn't stop. There are no detour signs in life that are easy to see like "Stop, you are about to be injured and will need something to supplement your income while you are down...this injury will happen in 5 days...so be prepared." If only life were that simple.

But, we can be prepared and informed. So, let's look at what a disability policy will do for you. First, it will pay you a monthly paycheck for the down time you are experiencing while you are healing which of course is the best thing to help pay your bills that are still coming in.

With disability insurance there are varied options available for you to consider. Your benefits will be based on your occupation and gross monthly income. The payout in monthly checks is a percentage of your gross monthly income, it will not pay 100% of your income.

There are elimination periods to consider like 30,60,90,180 days or longer. The elimination period is the time from when you are first injured to the time that you get your first paycheck. The longer your elimination period the lower your monthly disability premium will be.

The two common disability plans available are short term and long term disability. The short term plans usually have a benefit period of 6 months. The long term plans have a varied benefit period of 1,2,5, or 10 years, or to age 65. You choose the length of coverage when you set up your policy.

Optional benefit riders are available as well to be added to the policy. Some examples are: Return of Premium Rider (Surrender Value Rider) which will return all your premiums back to you at age 65. Another example would be the Cost of Living Adjustment Rider which will allow for inflation adjustments in your benefits, as well as many other optional riders.

It's important to ask yourself questions as you journey through life to keep yourself prepared for all of life's challenges and we all face them. If you did sustain an injury that would not allow for you to work, how long could you live your current lifestyle. Basically how would you be able to survive financially, who or what have you placed in your life to be a helper when the road gets tough....Disability insurance can be a very valuable asset when you are facing a set-back.l

Dental Insurance - Top 10 Ways to Save on Dental Costs

We all want to find ways to help with the high costs of dental care. Procedures can be expensive, and more and more employers aren't offering dental insurance in their benefits package. Even if you do have insurance, you still have deductibles, copayments and caps on the amount that's covered per year. Here are 10 ways to help lower your dental costs:

1. Brush daily or more. Brushing your teeth helps prevent the tooth decay that can lead to cavities and the need for dental work.

2. Floss daily. Flossing regularly helps prevent gum disease. Gum disease can lead to serious dental health problems and the need for expensive care. Flossing regularly also helps control bad breath.

3. Be aware of the foods you eat. Sugary foods, citrus foods and acidic drinks can damage teeth.

4. Get regular dental checkups. Prevention is one of the best ways to save on dental care. Regular checkups can catch problems -- such as the start of a cavity -- before they become something much more expensive to fix, like a root canal.

5. Get regular teeth cleanings. Cleanings help keep your gums healthy. The costs for cleanings and checkups are a lot less than root canals, crowns or dental surgery.

6. If you have insurance, try to split the costs between plan years. If you need extensive work that will max your annual cap on expenses see if you can start the work at the end of the year and finish it at the beginning of the next year. Check with your dental insurance company to make sure they don't have a lifetime maximum cap or other restrictions.

7. Use dental providers that are in your dental insurance network. Using preferred providers in your dental plan can save you a lot on costs.

8. See if you dentist can work out a payment plan. A payment plan is one way to help you afford to get the work done before it blossoms into something more expensive.

9. Prioritize dental work. You dentist may list out all of the ways to put your mouth in tip-top shape, but some procedures may be able to wait. Have your dentist help prioritize the most important procedures first.

10. Get a discount dental plan. Discount dental plans are alternatives to dental insurance, and can be an affordable way to lower your dental costs. With a dental discount plan, you pay an annual membership fee and then present your membership card to a participating dentist. The dentist will then charge you a discounted fee for services.

What is the Solution to High Cost Dental-Health Care - Are You Suffering Due to This Problem?

Save your Teeth- Ignore them they will go away!

Is the High cost of Dental Care keeping you from getting Quality Care for your Teeth?
Are you aware that your lack of Dental Care could lead to other Health Problems? What is the solution to High Cost Dental Care?

High Cost of Health Care breaking the Bank?

Are you losing your teeth due to the fact you can't afford dental care?

Have Insurance companies let you down time and time again?

Are you ready for a change?

Great News! There is a solution, it's called Consumer Driven Health. What does that mean: There are benefits available to you at low cost that can save you up to 80% on your care. It also does something else that Insurance cannot or will not do and that is to put your care back into the hands of yourself and your Dr/Dentist.

Just a few Statistics of the Crisis in our Health care System!

There are 47 million people who have no Health Coverage

There are 100 million with no Dental Coverage

51 million school hours has been lost due to tooth pain.

Tooth decay and abscessed teeth have even caused death.

People die every day because they have no Insurance.

Why is Consumer Driven Healthcare the answer to your problems?
• Affordable Coverage
• Great Savings Between 20% - 80%
• You Never have to pay Full Price Again
• Instant Savings
• You and Your Doctors Determine what Care You Need
• 30 Day Money Back Satisfaction Guarantee

What advantages do you get with this type of Healthcare?

Free Vision, RX and Chiropractic with the Dental Plus Plan.

No Waiting Period.

No Pre-Authorization for Treatment Required.

No PaperWork.

Instant Savings.

Specialists Included, Where Available

All Ongoing Medical/Dental Problems are Accepted.

Cosmetic Dentistry/Surgery Included, Where Available

No Age Limit

Lasik Surgery Included

Affordable Dental Plan - Factors to Consider Before You Purchase

In the recent years it seems as if more people than not are choosing an affordable dental plan over the previously popular personal dental insurance. Although an affordable dental plan seems like a great choice when it comes to saving money on the basic dental procedures there are some things you need to take into consideration when choosing any dental care plans.

First and most importantly to the overall affordability is whether or not there is a deductible that must be adhered to before the dental care plan goes into effect. It could be as little as $100 or it could be high as $2500 so you really need to question what it is going to be before you have to actually use it. You should also find out whether the deductible on a dental care plan is per individual or whether it is for the entire family.

When looking at an affordable dental insurance you should also question whether or not there is a total limit on the dental benefits that it provides to you and your family. Usually done annually, there is some type of limit whether it is the money spent or on types of dental treatments you may get. For example, if you have a dental care plan in place, orthodontics are rarely, if ever, covered. So, if you need a certain type of treatment you need to find out if it is available with an affordable dental plan.

Lastly, ask your dental care provider whether or not they limit certain pre-existing conditions. Although most individual dental plans provide some coverage for pre-existing conditions, not all do. When you consider these aspects of an affordable dental plan you will be able to weigh your options a little better to make sure you are really getting the best dental plan you can.

The Difference Between Dental Care Insurance and Dental Discount Plans

When you are looking for an individual dental plan you may find a lot of information leading to dental discount plans. Although at first they seem like they are the same, in fact they are quite different. Before you go about signing up for any personal dental insurance you should take the time to learn the fundamental difference between the two.

A dental discount plan first of all is considerably lower in cost than personal dental care insurance. It also does not have a limit on the amount of dental services you can have in a single year nor does it have a deductible to pay. Almost everyone will be approved for a dental discount plan, regardless of whether or not there is a pre-existing condition, and there will not be a ton of forms to fill out if you do have to have dental services performed.

That being said, discount plans do not cover as many dental services as personal dental care insurance and you also have to pay more per visit. Whereas personal dental insurance is done through dental insurance providers, a dental discount plan is more of a membership of sorts that gives you a card that provides discounts on the total cost of the services rather than covering one or more particular dental service.

Whether you choose dental care insurance or a dental discount plan is a personal decision. It really comes down to what you can afford as each has their own pros and cons when you are looking at getting personal dental insurance.

These Are the 2 Primary Types of Low Cost Dental Plans That Most People Choose

Dental care is one of the most overlooked types of health care in the United States today. The fact of the matter is that most people simply can't afford standard health insurance, let alone anything that will only provide coverage for their teeth. Latest statistics (at the time of this writing) show that only 3 of 10 people (30%) in the USA have any kind of dental plan. Those numbers are unacceptable because there low cost plans available that most people with a full-time income can afford.

If you think a low cost dental plan is the right way to go for you and your family you can research the many different ones available online. You need to shop around and compare all of the plans as they are very different from one another. With a little bit of research you can find one that will cover all of your projected dental needs while still fitting into your family's monthly budget. The best way to go about researching low cost plans is to sit down and list what kind of dental needs you will have in the future for you and your family and then look for those services in the plans you think will suit you the best.

You have two main options available to you. These are dental insurance and discount dental plans. Dental insurance is the traditional option. It does not pay for any problems that you may already have, but it will provide coverage for cleanings, x-rays and any future problems that you may have.

Discount plans offer savings as high as 60% on most types of dental care. You may see a participating provider at any time for most conditions, existing or not. The drawback here is that you must join a network and you must pay the reduced fee in full at the time of your visit.

You can get a lot of information from the National Association of Dental Plans, the American Dental Association, and the Academy of General Dentistry on low cost dental plans that can provide you with dental coverage in place of insurance or in conjunction with your current dental insurance plans.

Long Term Disability Insurance Coverage

Shopping for insurance can be unpleasant as we are forced to contemplate unpleasant scenarios which might arise in the future. No one likes to think about what life would be like should they become disabled and unable to work. The reality is, however, that one third of all Americans between the ages of 35 and 65 will become disabled for more than 90 days, according to the American Council of Life Insurers. One in seven will be disabled for more than five years. While many people think that disabilities are typically caused by freak accidents, the majority of long-term absences from the work place are due to illnesses, such as heart disease and cancer. The loss of income can be so devastating that people may lose their home to foreclosure or be forced into filing for bankruptcy. This can be avoided with long range planning when you are healthy by shopping around for the best disability insurance that fits your needs and budget.

Disability insurance replaces a portion of your income if you become disabled and are no longer able to work. A typical group plan offered by an employer will replace up to 60% of your salary. Supplemental plans and individual policies will often cover up to 70% or 80%. (No plan will cover all of your salary for fear you will have little or no incentive to get back to work.) The best disability insurance plans will, however, take a close look at your total compensation, including bonuses earned over the last 2-3 years to derive the maximum benefit. Benefits typically last until you reach retirement age since once you retire, you would no longer be dependent on the income you generated by working. Under some employer plans, you may have the option to contribute a small amount to the monthly premium in order to receive benefits tax-free. Under supplemental disability insurance policies, you pay the premium directly, so benefits are not taxable.

You will be well served if you shop around for the best disability insurance from amongst the many disability insurance providers. Based on your medical history, income and budget, policy rates will vary considerably from one provider to the next. If you are the primary income provider for your family and you would not otherwise be able to meet your obligations without your current source of income, you are truly gambling by not carrying long term disability insurance coverage. Should you get sick and be unable to work, life will become very unpleasant for you and your loved ones. This is one insurance policy you might not be able to live without.