Disability Insurance

WA Business News  Jul 6  Comment 
Removing Western Australia's Disability Services Commission director-general while changes to the National Disability Insurance Scheme are under way is like sacking a coach before the grand final, the state opposition says.
guardian.co.uk  Jun 14  Comment 
Australia’s progressive tax system does not heavily penalise high-income earners but the flat rate Medicare levy burdens lower-income earners more Since the May budget one area of dispute has been the raising of the Medicare levy to 2.5% to pay...
Motley Fool  Apr 8  Comment 
Nearly everyone pays this key tax, even if they don't know what it's for.
Motley Fool  Feb 7  Comment 
Have you ever thought about what would happen if you became disabled and couldn't work anymore? If you're assuming you can count on Social Security to keep you afloat, think again.
WA Business News  Feb 1  Comment 
The state and Commonwealth governments today signed a bilateral agreement for a nationally consistent, locally delivered National Disability Insurance Scheme, set to be delivered from July.
WA Business News  Dec 2  Comment 
The federal government is on the brink of striking a deal with Western Australia to let the state run the National Disability Insurance Scheme locally.
Insurance Journal  Sep 1  Comment 
Valencia, Calif.-based Petersen International Underwriters has named Lori Boggs a regional vice president of the firm. Boggs previously was the national account management vice president of MetLife Insurance Co. At MetLife one of her focuses was...
Motley Fool  Apr 1  Comment 
This mandatory fee is eligible for an itemized deduction in some cases.
MarketWatch  Mar 15  Comment 
I can’t find any good, specific advice about the relative merits of different disability insurance plans. Do you know where I can find this data?
WA Business News  Mar 8  Comment 
State rules out NDIS, goes its own way The $22 billion National Disability Insurance Scheme will never be rolled out in Western Australia, with the state government confirming that the original vision for the NDIS has no place in the west. The Aus


Disability insurance guarantees a policy holder replacement income on a tax-free basis if he or she is unable to work due to illness or physical injury. Social Security, Worker's Compensation, Employer sponsored plans, and Individual sponsored plans are all different forms of disability insurance. Employees commonly undervalue disability insurance because they assume they will never need it. Unfortunately according to a recent study, most people estimate they have only a 16% chance of becoming disabled during their working years.[2]

  • Employees under age 35 have a one in three chance of being disabled for at least six months during the course of their career.
  • Men have a 43% chance and women have a 54% chance of becoming seriously disabled during their working years.[3]

Disability Insurance Plans

Disability insurance plans contain information about:

  • Definition of total disability
  • Renewability of the insurance policy
  • Residual Disability Insurance
  • Benefit Period
  • Elimination Period
  • Optional Riders
  • Policy Exclusions
  • Renewability Provision
  • Definition of Disability
  • Graded Lifetime Benefits
  • Residual Benefits
  • Cost of Living Benefits
  • Subsequent Disability Provisions
  • Catastrophic Disability Benefits
  • Presumptive Disability
  • Waiver of Premium
  • Future Increase Options

Getting Disability Insurance

If your employer does not sponsor Disability Insurance an individual can purchase a policy by:

  1. Requesting a quote
  2. Filling out and application
  3. Scheduling a physical
  4. Waiting for insurance companies to review your application
  5. Getting approved

Companies that Sell Disability Insurance

New York LIfe Insurance Co


  1. Guide to Individual Disability Income Insurance, America's Health Insurance Plans, 2007
  2. Protect Your Income, Disability Statistics
  3. Sound Financial Plan, MDRT
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