Posted on 04/09/2013 7:44:55 AM PDT by DCBryan1
This is true. You can anticipate premium increases over the years, as the carriers have the right to increase premiums by the book of business. Get one with a nonforfeiture option, so that if you cannot afford the new premium level somwhere down the road, you can get some benefit based on what you paid in, in premiums.
I agree with this advice. Be sure you have as much long-term disability insurance as you can qualify for, even if you have to go out for a longer waiting period before benefits are payable. If your employer does not offer it or only covers a certain percent of your income, get more on an individual basis. If the employer pays the premiums on a group plan, the benefits will be taxable. Benefits are not taxable for coverage for which the premiums are paid by the individual.
Thanks for your input guys.....we got a mid-level NW Mutual policy that doesn’t hurt us much ($150/mo) and has some nice riders.
Thanks!
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