Disability Insurance

Does anyone have experience getting disability insurance? I know it seems like asking an insurance company to insure a building that's on fire, but has anyone done it?

Has anyone got a policy through work and then kept it afterward?

Do they ask for a list of diseases you have?

Thanks.

[Scooter24]

I had it with co I worked for, it covered everybody and no questions were asked at all.

[MSW1963]

Employer DI coverage is great for accidents and for illness after EEs have been covered longer than the 'look back' period in the policy.

The look back period allows the insurer to look at medical history for a claim made within 2yrs of the policy effective date.

A claim for MS dx'd within the 2yr look back period is usually declined.

[onlyairfare]

At some companies you can obtain group disability insurance while an active employee that can be "converted" to an individual policy if/when you leave the firm. The one I had did not ask underwriting questions at the time of conversion, and I was guaranteed eligibility for the policy.

If your employer offers such a plan, take it. It is unlikely you will obtain disability insurance any other way when you are already diagnosed.

[BigA]

Thanks everyone. It confirms what I thought, that I can't get past the questionnaire if I apply myself, but there is a possibility if I get it via a company, to continue later.

[MSW1963]

Just to clarify, wait until the look back period has expired before filing a claim.

I used 2yrs as an example, it may vary by policy and state mandates.

[Jules A]

Thanks everyone. It confirms what I thought, that I can't get past the questionnaire if I apply myself, but there is a possibility if I get it via a company, to continue later.

Unfortunately most group policies through employers won't take us either. I have a "modified" version that will pay a few hundred dollars a week for nursing home or respite care. It wouldn't begin to cover all of it but the chances of needing care at some point are so great with MS I figured something was better than nothing so I signed up. It costs about $20 a week.

[onlyairfare]

All this discussion goes to show that you'll have to read the policy documents very carefully, as each company and each policy are different.

Also, if you work for a large company with many locations in multiple states, some provisions of the policy will be covered by federal law, some by state law. The laws of the state in which the company is "domiciled" (which is probably where it has its corporate offices) may apply, and the laws of the state in which you happen to live and work.

It's very complicated, and the odds are not in favor of the "consumer."