re: thoughts on disability insurance?

Own occupation means if he's disabled as a farmer, he doesn't have to become something else. He may not be able to farm, but he can teach AgriBusiness at North Vermilion. Some policy definitions say that if he can reasonably earn a living doing something else then he's not disabled. "Own Occupation" would be listed on the policy declaration page.

As far as riders go, partial is OK. I like Social Security Supplement to offset premium cost along with COLA and Guaranteed Increase Options.

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For people who work in an office

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Paid lots in claims for mental and nervous on lawyers in my career.

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For people who work in an office, I haven't really seen a great argument for it.

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The majority of disabilities aren't physical injuries by nature. Most are cognitive or illness driven.

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At least not enough of one to persuade me to buy above whatever minimum deal my office offers.

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Eliminate your tax burden if the employer deducts your premium.

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Own occupation means if he's disabled as a farmer, he doesn't have to become something else. He may not be able to farm, but he can teach AgriBusiness at North Vermilion

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Some. Though, say you are a orthopedic surgeon, most companies will use that definition as a physician. So, he may not be able to perform surgery, but he can diagnose and see patients, therefore, not totally disabled. Also, many won't say you are disabled if you are able to earn 80% of your income in another occupation.

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Some policy definitions say that if he can reasonably earn a living doing something else then he's not disabled. "Own Occupation" would be listed on the policy declaration page.

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Yea, many Own Occ definitions also say that if the person can work in another occupation, they have to be gainfully employed to receive any benefits.

I know a lot like the Own Occupation definition, but unless you are in a very specific type of career, I don't think it is necessarily the best fit.

Plus their E&O to go after if they F it up.

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Plus their E&O to go after if they F it up.

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so true.

Sorry about your friends' situation, but thanks for sharing. That's quite a compelling story. Sadly, most of those stories are followed by...and they didn't have insurance.

No kidding. He was a sharp guy. Very sharp guy. Their situation would have been pretty devastating without those policies. I'd never thought about how awful short term memory loss could be until this happened. Can't remember simple things. His wife has to leave notes all over the house for him and they literally had to put the dog on a diet because he gained so much weight from the multiple meals. I thought he might forget to feed the dog, but that was never a problem.

Yeah you really never know...

My parents took in a couple disabled children from a crackhead cousin of mine. My (very healthy) dad ended up having a brain tumor a few years later just out of the blue. It was successfully removed but he has severe setbacks including memory loss that has kept him from going back to work. Thank God for disability insurance or they'd never make it and no telling where those poor kids would be.