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Reply to Issues with Potential Disability Claim if Not (currently) Earning Salary??     
Old 05-23-2015, 07:15 PM   #1
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Join Date: May 2015
Posts:1
State: taz7 is an Insurance Agent from
Issues with Potential Disability Claim if Not (currently) Earning Salary?? Issues with Potential Disability Claim if Not (currently) Earning Salary??
Background: Early 40s law partner at amlaw100 firm, earning mid 6-figs. have had Mass Mutual Radius IDI (with own-occupation rider, benefits to age-65) for past five years.

A "mid-life crisis" finds me leaving big-law to start my own firm; not planning on taking any salary for the first year or two: living off savings and plowing all revenue into growing my firm.

Question: if anything happens to me, and I have to make a claim, are there going to be any issues, given that I don't currently have a salary (though i'm obviously working full-time in my normal occupation as a lawyer).

Thanks!
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  Reply With Quote to Issues with Potential Disability Claim if Not (currently) Earning Salary??

Old 06-01-2015, 11:35 PM   #2
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Join Date: Aug 2013
Posts:185
State: aclaro is an Insurance Agent from
Issues with Potential Disability Claim if Not (currently) Earning Salary??
You should check the wording of your policy. The payment is usually based on prior earnings at time of claim. Mass Mutual currently (I believe, don't hold me to this word for word) uses the greater of the average monthly earnings over the last 12 or 24 months or highest consecutive 24 months of last 60 months. In this case the monthly benefit is the maximum benefit. This is how current policies do it. I have heard of old policies that don't do this and just pay the benefit amount regardless of earnings at time of claim. Read your policy.
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  Reply With Quote to Issues with Potential Disability Claim if Not (currently) Earning Salary??
Reply to Issues with Potential Disability Claim if Not (currently) Earning Salary?? 

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