disability insurance

[texfarrier]

I need to know if any of you have disability.My brother in law just stated selling insurance and came to me and i asked him to get me some quotes for me on disability and he said with my ocupation as a farrier he thought it would be vary hard for me to get covered and if i did it would be through the roof because my job is high risk...Who do you use and is it expensive? and what kind of coverage do you have?

[Gary Hill]

I have one through Illinois Mutual. Not a really big policy but something is better than nothing.

[THamilton]

You can get it. Shop around. If you do, check into short term AND long term.

One is for... I believe 6 months or less and the other is for longer time periods. Both really handy.

Hind sight is 20/20

Tony

[ErinC123]

Blue Collar works are hard to cover.
and individual insurance is even worse.

good luck.

I happen to work for
Guardian Life .

www.glic.com

and I sell for a full time job!
sigh!!!!:confused:

and trim for fun;)

[horseshoeguy]

I tried to get quotes, Metlife and a couple of others outright would not consider me because of my profession. I am still shopping...

[farriergodmother]

Maybe this was bad advice but, the insurance agent I approached looked into disability and suggested I take the money I'd "waste" on insurance and invest it wisely, knowing it would actually be there when I needed it, my own little disaster fund. So, I that money goes to my financial guru and gets dumped it into my existing mutual funds, stocks and IRAs. So far, it's worked out. Even with the market where it is, I'm ahead so far.

[Jay Mickle]

Maybe this was bad advice but, the insurance agent I approached looked into disability and suggested I take the money I'd "waste" on insurance and invest it wisely, knowing it would actually be there when I needed it, my own little disaster fund. So, I that money goes to my financial guru and gets dumped it into my existing mutual funds, stocks and IRAs. So far, it's worked out. Even with the market where it is, I'm ahead so far.

Had I done that 36 years ago I could probably retire now. It is gambling. I was never good at that.

[Jim Sweeney]

I had no trouble getting any disability policy I wanted. The price depended on how long you could wait to collect any payments. If you needed your first check with in the first month of the injury the rates were out of this world. If you could go six months before you needed to start collecting it was very reasonable. Maybe the insurance along with Amanda's saving and investing advice is the only way to sleep at night. I had it when my health insurance was $400 a month, when my health insurance crept up into the $1200 a month range I let it go. I think if I was hurt to where I was out for a year or more I would move on to another profession

[Matt_McMicken]

I havent priced disability insurance, but the quotes I got for health insurance were over a thousand bucks a month. Gotta play it safe I guess.

[Mike Ferrara]

Had I done that 36 years ago I could probably retire now. It is gambling. I was never good at that.

It is gambling but if you don't play you lose for certain. Without investing to try to keep pace with inflation and taxes, you lose money for sure.

[vthorseshoe]

Jim Sweeny's post will fit many farriers in todays world.
Erin..... I didn't know you sold insurance ??

Insurance has gone so darn high I am not sure how anyone can afford it.

I have dropped B/C B/S in the last 4 months because I can no longer afford the premiums.

I am doing what Amanda has suggested and build a slush fund.
I am also looking into 2 forms of insurance provided by Vermont at a lower cost.

How many times have you paid and paid then the one time you need to collect the company says, "Not covered under this section in fine print or their interpretation of the coverage leaves you out in the cold.

If you want a great investment buy stock in insurance companies.
If you want coverage it will cost you dearly.

It is time to find other venue's and modes of covering ourselves in case of an accident.

This would be a great time to check with you local farriers chapter and see if you couldn't buy insurance as a group.
Numbers bring leverage.....

Just how many of your agents truly know the work you do ?

If you believe as I have and do, that being without insurance is playing russian roulette, then understand I think paying the unbelievable high insurance premiums is highway robbery.

Being a widower, I no longer have a family to worry over. Just myself so taking this chance is on my shoulders, not playing with the welfare of a wife and children.

my 2 cents worth ;)

[horseshoeguy]

Check into a Health Savings Account. It takes some discipline, but is a good way to go for us.

A health savings account is a savings account and high deductible account used in conjunction with each other. I am 36, non smoker and I pay $120/month for $3000 deductible HSA health plan. I put money ($2850 for an individual this year) into my HSA bank account. I pay medical costs from my HSA bank account. The money I put in rolls over each year and earns interest. I can invest it in mutual funds, and if I still have some in the account when I reach 62 1/2 I can withdraw tax deferred.

http://www.ustreas.gov/offices/public-affairs/hsa/
http://www.hsabank.com
http://www.hsainsider.com

[texfarrier]

Thanks for the info and websites horseshoeguy.I have heard of these from dave ramsey but i was not real sure about the details.
Thanks again.