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Discussion Starter #1 (Edited)
I carry 100% coverage on everything with high deductibles ($1K) to stay as "self-insured" as it practical these days. I don't want insurance paying for ANYTHING unless it is a big ticket issue (like the $6K lower unit they replaced on my boat a while back).

What I am inquiring about is AFLAC-type of coverage where if you get hurt and can't work, insurance covers your personal bills. I already have something like a 30% coverage through my standard work package but wanted to know if anyone here could guide me on how to supplement that coverage with additional coverage and how much of a monthly nut it might run for others? Personally, I think its my wife's idea that it cost so much that I will abandon the buying process altogether but have agreed to "look into the details". I also realize that about 1% of this community might even have considered such coverage so if nobody has, no problem. I am a 48 year old male who has never had an accident, is a non-smoker and has never had any health problems.

PS - My "work" is mostly working from a remote home-office and talking on the phone about technology design projects so about the only thing that she is REALLY worried about is me "scrambling my noggin" and being unable to do things like IP subnets on the fly or my ability to understand the distance vectors of RF modulation for cell sites. In short, she doesn't want to have a vegetable AND huge bills AND no regular income. My wife is VERY frugal so I am lucky in that way. We do have a LOT of savings in catastrophic cases but she wants additional assurances as any intelligent women would.
 

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I carry 100% coverage on everything with high deductibles ($1K) to stay as "self-insured" as it practical these days. I don't want insurance paying for ANYTHING unless it is a big ticket issue (like the $6K lower unit they replaced on my boat a while back).

What I am inquiring about is AFLAC-type of coverage where if you get hurt and can't work, insurance covers your personal bills. I already have something like a 30% coverage through my standard work package but wanted to know if anyone here could guide me on how to supplement that coverage with additional coverage and how much of a monthly nut it might run for others? Personally, I think its my wife's idea that it cost so much that I will abandon the buying process altogether but have agreed to "look into the details". I also realize that about 1% of this community might even have considered such coverage so if nobody has, no problem. I am a 48 year old male who has never had an accident, is a non-smoker and has never had any health problems.

PS - My "work" is mostly working from a remote home-office and talking on the phone about technology design projects so about the only thing that she is REALLY worried about is me "scrambling my noggin" and being unable to do things like IP subnets on the fly or my ability to understand the distance vectors of RF modulation for cell sites. In short, she doesn't want to have a vegetable AND huge bills AND no regular income. My wife is VERY frugal so I am lucky in that way. We do have a LOT of savings in catastrophic cases but she wants additional assurances as any intelligent women would.
How about you write "how-to" guides for her...? Costs zero, and the chance she'll ever need them has to be small enough that it's not worth buying yet another insurance.
 

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Discussion Starter #3
How about you write "how-to" guides for her...? Costs zero, and the chance she'll ever need them has to be small enough that it's not worth buying yet another insurance.
LOL, Good one. I can see that your not married to a women who works in a major hospital and sees bikers dying on the ER table each weekend from crashes that were "not their fault". To her, the chances are high enough that she wants insurance. I'm comfortable enough that we can afford it...I think.
 

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I carry 100% coverage on everything with high deductibles ($1K) to stay as "self-insured" as it practical these days. I don't want insurance paying for ANYTHING unless it is a big ticket issue (like the $6K lower unit they replaced on my boat a while back).

What I am inquiring about is AFLAC-type of coverage where if you get hurt and can't work, insurance covers your personal bills. I already have something like a 30% coverage through my standard work package but wanted to know if anyone here could guide me on how to supplement that coverage with additional coverage and how much of a monthly nut it might run for others? Personally, I think its my wife's idea that it cost so much that I will abandon the buying process altogether but have agreed to "look into the details". I also realize that about 1% of this community might even have considered such coverage so if nobody has, no problem. I am a 48 year old male who has never had an accident, is a non-smoker and has never had any health problems.

PS - My "work" is mostly working from a remote home-office and talking on the phone about technology design projects so about the only thing that she is REALLY worried about is me "scrambling my noggin" and being unable to do things like IP subnets on the fly or my ability to understand the distance vectors of RF modulation for cell sites. In short, she doesn't want to have a vegetable AND huge bills AND no regular income. My wife is VERY frugal so I am lucky in that way. We do have a LOT of savings in catastrophic cases but she wants additional assurances as any intelligent women would.
I would suggest you take a ride on a new vic and let your noggin unscramble ASAP I think it would do you good:crzy::crzy:

Boy I wish riding weather would get here:D
 

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1K deductible is not bad there is much now days that don't coast a arm and leg.
As far as insurance goes you have it in hopes you never need it.
The shame of insurance is if you don't use it you never get any money back.
My Dad started driving when he was thirteen and i tuck his car away when he was eighty six. He never had one claim. But some place there is a insurance man on a big ass boat thanks to my Dad.
 

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Disability insurance can be very helpful if you are injured and cannot work. How long could you and your family live without your income? Perhaps we do put ourselves in a higher risk when riding a motorcycle- but disability insurance is beneficial for any kind of an accident that causes an injury that prevents us from working. Disability insurance will pay based upon the type of injury as well as whether it is a partial or full disability. There are a lot of things to consider. Talk to your insurance agent. He/she will walk you through.

The least costly insurance to me is the policy I never have to use! If I have to use it something bad has happened to me.

Good luck.

ladyrider
 

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I think there is a misconception as to how much agents earn. "For example in our state an agency earns approximately 10 to 15 % of a home premium. So a $1000 year premium equals $100 to $150 a year in commission to the agency. You have to have a lot of policies to make a living let alone pay overhead and employees.

It was a big eye opener for me when I learned this.

ladyridr
 

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I had a policy with Unum Disability Insurance that covered my position, meaning if I could not longer do what I use do it payed me 66% of my wages. I did not have to take a lessor paying job passing out smiley faces at wally world. I won't go in to the specifics but I drew money off of it for 4 1/2 years before I started receiving Social Security Disability payments and they cover what is not supplied by SSDI to make sure my income is the same for the rest of my life. Did I ever think I would use it, NO, am I glad I had it deducted from my pay check each week, YES. I was 44 when it went into effect and it saved me and I am thankful each month for the premium I payed each month for all of those years. I hope that is what you where looking for, it is like all insurance policies, just in case you need it and I did. I purchased a new truck about 2 months before my problem arose and I had checked the little box for disability insurance on the loan I made 4 payments and CUNA made the rest for me. I hope no one thinks lessor of me for using the insurance but I paid for it on both occasions.
 

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Discussion Starter #10 (Edited)
I had a policy with Unum Disability Insurance that covered my position, meaning if I could not longer do what I use do it payed me 66% of my wages. I did not have to take a lessor paying job passing out smiley faces at wally world. I won't go in to the specifics but I drew money off of it for 4 1/2 years before I started receiving Social Security Disability payments and they cover what is not supplied by SSDI to make sure my income is the same for the rest of my life. Did I ever think I would use it, NO, am I glad I had it deducted from my pay check each week, YES. I was 44 when it went into effect and it saved me and I am thankful each month for the premium I payed each month for all of those years. I hope that is what you where looking for, it is like all insurance policies, just in case you need it and I did. I purchased a new truck about 2 months before my problem arose and I had checked the little box for disability insurance on the loan I made 4 payments and CUNA made the rest for me. I hope no one thinks lessor of me for using the insurance but I paid for it on both occasions.
PERFECT!!! Thanks for the company reference. I tried AFLAC but since my company does not have a contract with them, they can't offer me anything.

A friend of mine had the policy and he was a solid, good guy that was very reliable and worked in a warehouse for the first 20 years of his career. A drunk, un-insured, illegal alien hit his SUV on the interstate flipping him over and pinning him under the truck. He nearly died and was not able to physically return to work for a number of years (Went back to work about a year ago). His dis-ability was what allowed him the ability to live and to pay for his daughters first two years in college.

As others have pointed out, I hope to never have an opportunity nor need to exercise any policy but am also smart enough to take precautions should anything occur.

As far as the proceeds on policies go... insurance agents make the MAJORITY of their income based on renewed policies. As long as you take care of your customers, they will generally stay with you and therefore you will continue to get that $100 each and every year from each and every policy so there is a lot of money to be made but retaining clients isn't always easy either.
 

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As qmaster eluded to, his policy covered him for his job, there are a lot a of variables in DI insurance, one is own occupation, which is more costly, so depending on how much you make and how easy it is to do your job this is something to consider (like if a high paid surgeon loses a hand, clearly he could do other things but they would never make up for the lost income). also the elimination period, the shorter it is the more expensive the coverage, which means if you have reserves for monthly expenses use them to get yourself a longer elimination period.

Like I stated there are a lot of different variables when it comes to your DI insurance (most insurance for that matter) Make sure you get a competent agent that really understands what your getting the coverage for and also defining your actual need.
 

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Discussion Starter #12
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After a few days of additional research I have learned that my company has exceptional short and long term disability coverage. 90% for 1st 3 months and then 70% up to 6 months and then 50% long term for anything over 6 months. I may still check into a supplemental for long term for 30 or 40% but the reality is that this is pretty darned good coverage (for free)...time to buy the bike!
 
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