National Benefits - Disability Insurance
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Mutual of Omaha
Mutual of Omaha offers products and services that provide financial protection to help families, individuals, businesses and groups achieve their goals. Short Term & Long Term Plans Available |
Individual Short-Term Disability (accident and sickness)
Short-term Disability Insurance may be right for your client if:
* They want immediate coverage from the first day of disability
* They only need coverage until their employer-provided disability insurance would begin paying benefits
* They are interested in protection that is portable, not tied to a job
* They are willing to accept a shorter benefit period to keep the premium as low as possible
Individual Short-Term Disability will pay a monthly benefit if your client is unable to work due to a disabling accident or sickness. You can tailor the policy by selecting the elimination period, benefit period and optional riders that would best meet your client’s needs.
Short-term Disability Insurance may be right for your client if:
* They want immediate coverage from the first day of disability
* They only need coverage until their employer-provided disability insurance would begin paying benefits
* They are interested in protection that is portable, not tied to a job
* They are willing to accept a shorter benefit period to keep the premium as low as possible
Individual Short-Term Disability will pay a monthly benefit if your client is unable to work due to a disabling accident or sickness. You can tailor the policy by selecting the elimination period, benefit period and optional riders that would best meet your client’s needs.
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Monthly benefit:
Elimination period: Benefit period* Issue ages Premium** |
Based on a portion of current income. Maximum monthly base benefit is $5,000.
0/7 (accident/sickness), 7, 0/14, 14, 30, 60 or 90 days 3, 6, 12 or 24 months 8 – 61 Premium rate is level until age 67. Insured may continue coverage until age 75 (premiums will increase annually after age 67.) |
Base Benefits included in the Short-term DI plan:
Total Disability Income Benefit
If an injury or illness prevents the insured from performing the duties of their regular job, and are not gainfully employed in another occupation, insured will be paid a monthly benefit once the elimination period has been met.
Partial Disability Benefit
If an injury or illness prevents an insured from performing the duties of their regular job for more than 50 percent of their normal day, they will be paid 50 percent of the total disability monthly benefit once the elimination period has been met. Payable for up to six months.
Guaranteed Renewable
The insurance company cannot cancel this policy, up to age 67, as long as the insured pays the premium when due.
Waiver of Premium
Premium is waived for the coverage and optional riders after disabled for 90 days. Insurance company will also refund any premiums paid during this 90-day period.
Workers’ Compensation Rider
If the insured is disabled by an injury or sickness that is covered by state or federal workers’ compensation, employer’s liability or occupational disease law, insured will be paid 50 percent of the short-term disability benefits for which they are eligible.
Rehabilitation Benefit
Insured may be eligible to receive vocational rehabilitation services at insurance company’s expense.
Survivor Benefit
If the insured dies while disabled, their beneficiaries will be paid a lump sum amount equal to three times the total disability monthly benefit, payable at the time of death
Optional Benefits:
Critical Illness Benefits Rider
Pays up to $25,000 in a lump sum benefit if insured is diagnosed with certain specified diseases.
Hospital Confinement Indemnity Benefits Rider
Pays up to $500 for each day insured is confined to a hospital. The benefit doubles for days of confinement in intensive care. Benefits are payable for a maximum of 45 days for any period of confinement.
Return of Premium Benefit Rider
Pays insured back either 50 or 80 percent of premiums minus claims paid after 10 years, depending on the option you choose.
* Elimination and/or benefit periods may vary by state.
** Premiums will remain level to age 67 even if a claim is filed. The only way premium would be changed prior to age 67 is if insured changes their policy features or premiums are raised collectively for all people with the same Mutual of Omaha policy.
Features and riders may not be available with all policies or approved in all states.
Total Disability Income Benefit
If an injury or illness prevents the insured from performing the duties of their regular job, and are not gainfully employed in another occupation, insured will be paid a monthly benefit once the elimination period has been met.
Partial Disability Benefit
If an injury or illness prevents an insured from performing the duties of their regular job for more than 50 percent of their normal day, they will be paid 50 percent of the total disability monthly benefit once the elimination period has been met. Payable for up to six months.
Guaranteed Renewable
The insurance company cannot cancel this policy, up to age 67, as long as the insured pays the premium when due.
Waiver of Premium
Premium is waived for the coverage and optional riders after disabled for 90 days. Insurance company will also refund any premiums paid during this 90-day period.
Workers’ Compensation Rider
If the insured is disabled by an injury or sickness that is covered by state or federal workers’ compensation, employer’s liability or occupational disease law, insured will be paid 50 percent of the short-term disability benefits for which they are eligible.
Rehabilitation Benefit
Insured may be eligible to receive vocational rehabilitation services at insurance company’s expense.
Survivor Benefit
If the insured dies while disabled, their beneficiaries will be paid a lump sum amount equal to three times the total disability monthly benefit, payable at the time of death
Optional Benefits:
Critical Illness Benefits Rider
Pays up to $25,000 in a lump sum benefit if insured is diagnosed with certain specified diseases.
Hospital Confinement Indemnity Benefits Rider
Pays up to $500 for each day insured is confined to a hospital. The benefit doubles for days of confinement in intensive care. Benefits are payable for a maximum of 45 days for any period of confinement.
Return of Premium Benefit Rider
Pays insured back either 50 or 80 percent of premiums minus claims paid after 10 years, depending on the option you choose.
* Elimination and/or benefit periods may vary by state.
** Premiums will remain level to age 67 even if a claim is filed. The only way premium would be changed prior to age 67 is if insured changes their policy features or premiums are raised collectively for all people with the same Mutual of Omaha policy.
Features and riders may not be available with all policies or approved in all states.
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Assurity Life Insurance Company
Founded in 1890, Assurity is dedicated to making affordable, quality insurance and annuity products. Its parent company, Woodmen and Assurity have an A-(Excellent) rating by AM Best Company. |
Assurity Life Insurance Company-
Understanding why critical illness insurance work so well with life insurance
Understanding why critical illness insurance work so well with life insurance