Disability Insurance

[Packerland]

Not sure what forum this should go on .. a client that is 67 and still working is looking for Disability Insurance .. Does anyone have a carrier that handles DI for over 65 .. I do know that Petersen International has a couple of options .. Let me know .. Thanks

 

[yankee466]

Not sure what forum this should go on .. a client that is 67 and still working is looking for Disability Insurance .. Does anyone have a carrier that handles DI for over 65 .. I do know that Petersen International has a couple of options .. Let me know .. Thanks

You could of course try the Disability forum... You'd first have to get through the tough medical underwriting, but it may be preferrable to consider Long Term Care instead...as that will last forever.

 

[scagnt83]

Not sure what forum this should go on .. a client that is 67 and still working is looking for Disability Insurance .. Does anyone have a carrier that handles DI for over 65 .. I do know that Petersen International has a couple of options .. Let me know .. Thanks

Guardian and Ameritas will go to age 70. @Tahoe Ray would be a good person to chime in on this.

 

[kgmom219]

WHY? He's past FRA. If he becomes disabled, take SSA and whatever the premium is should go in the bank.

 

[scagnt83]

WHY? He's past FRA. If he becomes disabled, take SSA and whatever the premium is should go in the bank.

If he is a high income earner then SS might not cover his need (or his want). And he might not want to tap assets for income yet. Its not unheard of, but often the ultra high premiums at that age discourage a lot of people.

 

[Tahoe Ray]

Not sure what forum this should go on .. a client that is 67 and still working is looking for Disability Insurance .. Does anyone have a carrier that handles DI for over 65 .. I do know that Petersen International has a couple of options .. Let me know .. Thanks

I would put him with a Lloyd's carrier like Petersen.

Guardian and Ameritas will go to age 70. @Tahoe Ray would be a good person to chime in on this.

For group/GSI? Guardian is age 60 and Ameritas 64 for individual last time I checked (I don't write a ton of folks in their 60s but when they're late 60s, Petersen is a go-to.)

WHY? He's past FRA. If he becomes disabled, take SSA and whatever the premium is should go in the bank.

A lot of reasons.

Business succession planning, securing a business loan, SSA benefits are inadequate, high earner, wants better definitions of disability, etc.