Selasa, 16 Oktober 2012
Farm Health Insurance is certainly a priority for any individual who finds their livelihood from farming or working the land in some form. Working and living on a farm might just sound like the ultimate in wholesome existences. Nevertheless, you will find only two occupations which are much more hazardous; working in mines deep underground and truck driving.
In Australia, it has been noted that an average of 85 farm injury deaths happen each and every year. With regards to injuries, you will find between 20 and 60 percent of all noted instances every year result in hospital remedies and/or stays. Nevertheless, that doesn't cover the total number of injuries that really happen on a yearly basis. Back ailments, fractures, and cuts, which patients do not report to insurance providers, hospitals, or workers ' compensation, aren't included in this number.
The repercussion of farming injuries goes a lot further than you might understand. Not just will be the individual who's injured unable to function and is most likely in a lot discomfort; there's also a big price to the farm economically. Farmers wind up paying the cost for injuries numerous methods. This is particularly accurate if there's no Farm Health Insurance obtainable for workers.
There might be delays in obtaining any needed farm function accomplished if a farmer or specialized worker will be the one inflicted with the injury. There's the requirement to pay for medical remedies and feasible rehabilitation like physiotherapy, for instance. The price for hiring replacement workers and their wages requirements consideration.
Any reported incidents can result in greater individual accident or disability for members of the farming business. In instances where there have been reported incidents of injury can result in greater workers' compensation premium fees also.
Farmers make sure they've protection against any feasible farm injuries, not just for themselves and their families, but for any employees also. This consists of a great safety and well being management program and training for everyone involved. The pertinent info for this is obtainable from the occupational well being and safety regulatory bodies inside your state. It's also of the utmost significance to create certain you've an adequate Farm Health Insurance strategy also.
You will find numerous insurance businesses in Australia that may cater to your precise requirements. All it takes is some time to make sure you've all your requisites included in any policy you select. With farming becoming such a labour-intense occupation, most insurance brokers will gladly come to your farm directly to offer help together with your farm health insurance strategy.
Selasa, 18 September 2012
What's less expensive than disability insurance, easier to underwrite, doesn't require a blood test, not occupation sensitive, pays a cash benefit, doesn't require income verification... and doesn't stop at age 65 or 70 or even when you stop working?
Answer: Long term care insurance with an indemnity "cash payment" rider.
Here are some common problems you may encounter when looking to purchase or increase disability insurance coverage:
You can't verify your income. Your occupation is considered risky. You have a disability income policy, but it's not enough to cover your expenses. You are approaching retirement age and the insurance will stop in a few years. Your disability insurance will stop but your living expenses won't. You need the disability insurance but it's too expensive.
Over the years, I've met with individuals who needed disability income protection, but for one reason or another were not able to qualify for it. Many had personal roadblocks that prevented them from qualifying for the disability insurance coverage, such as:
1. Tax returns that showed lower income. -had an occupation considered risky by disability carrier.
2. There were preexisting conditions that a typical disability policy would exclude.
3. Income was not properly documented. -occupation would preclude them from being eligible for disability income protection.
When insurance companies underwrite a disability income policy they look at morbidity (illness or injury) rates as compared to life insurance companies calculations of mortality. Statistics show that the average 35 year old has a 25% chance of being disabled for 90 days or more during their working career. That's a 1 in 4 chance of an insurance company having to pay out significant benefits for thirty or more years. Disability insurance companies have gotten burnt over the years using "relaxed" underwriting procedures. They've paid out huge claims for their mistakes and now they've tightened their guidelines for qualifying for disability income protection.
So, what do you do when you want to purchase disability insurance and your income isn't high enough to qualify for the benefit amount you need? The answer is long term care insurance with an indemnity or cash payment rider added on. Since long term care is based upon functionality (being able to perform the normal activities of daily living such as dressing or bathing) and not income or not being able to work, the insurance company is not going to look at your income or your exact job description. You can purchase an indemnity cash payment policy or one with a rider and have the benefit paid out to you directly from the company regardless of how much you are earning at the time you are injured or sick.
The same concepts hold true for type of occupation or even if you aren't even working. An indemnity long term care policy will pay your daily benefit directly to you if you need assistance performing activities of daily living (hands on care) or need someone "standing by" to prevent you from hurting yourself. The great thing about some of these policies is that you can have anyone take care of you, including family members and friends. In many cases you can take a tax deduction on premium payments and most of the benefits you receive will be tax free.
If you are approaching 60 years old and have a disability policy then you probably know that in most cases your disability income protection policy will end at age 65 or when you stop working (whichever is sooner). Long term care policies are designed for older ages so you don't have to worry about the coverage stopping when you stop working or reach 65-70 years old. Typically, long term care insurance is less expensive than disability insurance and is much easier to get underwritten. Keep in mind that in order to get trigger benefits you must have an illness or injury that affects your overall functionality in your daily life and be under the care of a doctor who will document that your debilitation will last at least 90 days.
Selasa, 21 Agustus 2012
The permanent partial disability benefits can transpire as an aftermath or result of occupational and workplace injury. A permanent partial disability is when damage is assessed in medical examinations, has the possibility to be permanent and can occur in long period of time, but provided that the employee is still able to function to work. In this circumstance, under the laws of workers' regulation of salaries and benefits, the employee is permitted and is certainly has the right to receive a permanent partial disability benefit expenditures.
PPD is determined by the amount of the reduced earning aptitude of the worker throughout their career years because of their work-induced injuries. Even if the employee is still able to work, he will no longer work more than the load or their capacity depending on to their limitations, and re-application for another job is advised that does not require their full exertion because those jobs may aggravate their current injury or condition.
An expected pay reduction may be hundreds of thousands of dollars in recent years to a person who usually works then got injured or disabled. For example, if a construction worker earns U.S. $ 70 000 per year were suffering a back injury at work; you may need to find non-physical job tends to pay thousands of dollars less per year as a result of his injuries.
The examining physician or health care providers who assess the percentage of the extent to which the damage affects the ability of the worker to work. An employee can receive a disability benefit if he/she has incapacity that was certified by the licensed specialists and a score of 99 percent disability rating. However, most PPD evaluations are between five and a half percent. What kind of work the employee performs is a factor in assessing disability. If the employee is injured does not accept the disability rating, he or she may be eligible for a second opinion, an assessment of additional disabilities.
Once the disability rate has been set for the injured worker, he or she is permitted to accept disability benefits on a consistent basis so momentarily. Disability benefit payments should instigate punctually to the employee or the employer may face important financial penalties. At this point, the workers' benefit insurer of the employer may appeal an application for payment benefits that the injured worker a lump sum payment, including payment of damages with the disability benefits.
The best way to hasten the procedure and attain an earlier acceptance and approval of your disability benefits is to speak with a lawyer. They will attend and assist you throughout the often monotonous and drawn out request and submission for the certification and approval of disability benefits, and make the process as stress-free and easy for you, as possible. Select a lawyer who has enough knowledge and involvement with disability benefits and has been in the course of applying for benefits can only be beneficial for your disability claim. If you receive disability benefits from a lawyer, they will ensure that you have correctly completed and all necessary documents and is fully prepared for your hearing disability.
Selasa, 17 Juli 2012
Applying for disability benefits has become a growing necessity among Americans, especially for those in the workforce who can't perform work due to a medical condition. Generally, the perception of the whole application process for disability benefits has been somewhat shaky. This is due to the fact that, at least for those who underwent the process, it was overly tedious and stressful to deal with.
But then, the Social Security Administration (SSA), the federal agency that oversees the disability applications of applicants, has made life easier for those hoping to score benefits. With the whole world beholding the age of the Internet, there is no wonder that the SSA would go on that so-called "digital" direction; thus the federal agency's online application option.
The online application dilemma
For persons with disability who are planning to apply for disability benefits, the online option is considered their shortcut. While the purpose of the online application is to make life easier for them, it is often compared with the old-fashioned way of doing it, which is going directly to the nearest local SSA field office and applying for benefits in person.
Questions of the difference between the two options have often been a topic of discussion among those who are planning to apply for benefits. It can, therefore, be said that applying online has its advantages and disadvantages.
One definite advantage of applying online is the fact that it is a fast and convenient way of acquiring benefits easier. People living at this day and age have become more savvy when it comes to using the Internet, and doing the application online would be just a piece of cake for them.
Moreover, if applicants are unsure whether or not they are qualified for benefits, they can consult with the Benefit Eligibility Screening Tool. Available in the SSA's website, this tool gives them an opportunity to determine whether they could qualify for benefits under the Social Security disability program.
... and cons
However, disability applicants must know that the whole application process does not absolutely end with the online option. They still need to accomplish certain SSA forms, accumulate valuable medical information, and submit the claim to the local SSA field office. Additionally, the online application is not for everyone, particularly for those convicted of felony, those who do not live in the U.S., and for those who are applying disability benefits for a child.
Consequently, this will always boil down to preferences. Applying online or the old-fashioned way doesn't, in any way, change the applicants' qualification for benefits. To help them weigh these options in case they go undecided, they may consult with any reputable Los Angeles Social Security claim lawyers.
Rabu, 13 Juni 2012
If you were injured or became seriously ill, and were no longer able to work, how would you pay your bills? Paying your monthly mortgage payments could be almost impossible. Buying a mortgage disability insurance policy now could compensate for your loss of income by paying some or all of your monthly bills if you become disabled!
If a serious illness or accident prevent you from working, having a mortgage disability insurance policy in place could save your home from foreclosure. To mortgage disability insurance is available for full time employees who have been working for the same business for at least six months. When you have mortgage disability protection, you will be able to put your mind at ease knowing that your mortgage payments are taken care of. If you ever become disabled and are no longer able to work, you won't have to worry about the possibility of losing your home to foreclosure.
Something that may surprise you: approximately one half of all mortgage foreclosures are directly or indirectly caused by some type of disability or handicap. Social security may be an option for you, but you should be aware that social security coverage is very limited and to receive benefits from that program you must be fully disabled. Purchasing mortgage disability insurance will provide more benefits and better coverage and is easier to qualify for.
Employers often times offer disability insurance in their benefits packages. It is important to look closely into that policy and understand the terms and conditions. Be sure that the benefits offered in that policy would be sufficient for you and your family if you became disabled. It may be a better option to get a customized mortgage disability insurance policy from a licensed insurance agent.
Before you decide which policy to purchase, you should talk to a local licensed agent and research what policies you qualify for. Be sure to discuss your cost of living with your agent and remember to include all of your loan payments as well as other expenses to find what percentage of your income would need to be replaced if you ever became unable to work. You should also find out how long the policy will pay out generally this is between six months and one year. No matter the extent of injury or disability; your mortgage disability insurance policy will ensure that you don't lose your home.
Rabu, 23 Mei 2012
Disability insurance and your career go hand in hand. Building any career calls for the investment of time and money; however, a career built through sheer hard work alone is never safe. A simple accident can end your career, and unfortunately, you will never know when an accident will occur. Accidents can cause both temporary and permanent disability. Reports have shown that at least one of every seven workers will be victim of disability before he is 65 years old. Any form of disability can have disastrous effects on a person's family, as you will be unable to support your family and pay bills at the same time. Not to mention that a disability also comes with its own expenses. Your medical bills may skyrocket and continued expenditures with no additional income can easily deteriorate all of your assets. Have you ever thought of a situation where you'd be unable to provide for your family? There is no reason to worry because you can safeguard your source of income through a disability insurance policy.
Individual disability insurance can cushion you against the financial hardships resulting from a disability. This insurance goes a long way to replace a significant portion of lost income due to sickness or injury. You can use the insurance payments to pay for ongoing bills while you recuperate from the injury or illness. Many people tend to think that medical insurance is sufficient for any health related event; however, that is not the case. Apart from the medical bills that come with an injury or illness, you will also have to continue paying your mortgage, vehicle payments, and other insurance premiums. With disability insurance, you can pay the necessary items needed, but you may also be in a position to save some income for the future. Many people underestimate the chances of becoming disabled, not knowing that they are at great risk. A small monthly or annual payment to a disability insurance plan can prove to be very helpful, as the everyday working environment is filled with potential hazards for disability. Additionally, the modern world is constantly faced with dozens of difficult-to-cure diseases.
Many workers enroll in group disability insurance plans; however, many group plans have uncertainty factors attached and they are not always the best option. Group insurance plans can sometimes be altered or canceled unexpectedly. Also, many times you are unable to take your group insurance plan with you when you change employers. It is also important to note that group insurance has restrictions, such as only being able to use it when you are fully disabled. This can be a huge disadvantage because most forms of disability are known to be partial. Meaning, they do not render you completely disabled even though you may be unable to perform your most vital tasks. In addition to the aforementioned disadvantages, the benefits from group insurance plans are taxable, the terms are sometimes not revised regularly, and they are almost always obsolete in regards to inflation.
Signing up for a disability income insurance policy is the best thing you can do to safeguard your income and protect your family. Keep in mind that there are many different types of disability insurance policies. Some are based on specific careers while others are more general and income based. The most common types of disability insurance include disability insurance for physicians, dentist disability insurance, medical resident, and attorney disability insurance among others. Different professions have different categories and every insurance plan has a set of features and rules. The amount payable every month differs from one policy to another and clients are free to make their choices depending on their level of income and profession. The length of time within which benefits are paid ranges from 2 years to age 67. In any good policy, premiums are waived during the disability period and some plans keep with changes in inflation. That being said, it is always wise to choose the best disability insurance company and policy appropriately for you age, income and financial needs.