Do you qualify for this INSURANCE benefit?

[jmmilliorn]

I don't know if this will apply to you, but I thought it was worth mentioning since I recently discovered this great benefit. I am 64 years old, but back in my early 40's I purchased a rather large life insurance policy as part of my estate planning. The policy had a rider on it for disability. It said that if I ever got disabled, the insurance company would pay my premiums until I got well. My insurance agent called me recently to remind me of the now 20+ year old policy which I've been paying HUGE premiums on all these years. I applied for the disability coverage--a couple of pages of forms and a doctor's signature. It was just approved. My HUGE premiums were refunded back to when I was diagnosed. I am considered permanently and completely disabled since I can't work on my ranch any more and because WG is incurable. The insurance company will continue to make the HUGE annual premium payments as long as I am disabled. This has saved me MANY thousands of dollars!

Hope this helps some of you.

[drz]

Many disability policies and long term care or nursing home have same clause so once you start collecting disability payments your premiums are waived. Too bad it is NOT generally available in most medical policies.

[jmmilliorn]

I had two whole life insurance policies with two of the biggest companies. Large cash values I intend to use to pay estate taxes once I go to my heavenly home. I paid extra for the premium waiver on one, but didn't on the other. Apparently, I didn't make the decision myself. The sales person made it for me based on cost of the waiver provision, and I didn't know (or remember) having it until I got a call from the guy after my diagnosis. Since my policies were large, the savings were enormous, but the kicker is they end when I turn 65 next year. Bummer. They are retroactive however back to the diagnosis.

[pberggren1]

That is awesome to hear J. Mike.

[Red]

Hi J Mike ,
Just wondering you said you are permanently disabled is that though social security the reas-
on i ask is that i can not work, also have been self employed no income no help ect have applyed for ss and was denied because i could move my arms.
I have filled an appeal .

Thanks Brad

[jmmilliorn]

No, I didn't even tell SS I'm sick yet. I'm 64 and will be 65 in Jan. That is soon enough. I didn't feel like doing the paperwork. It is the insurance company that declared me fully disabled. That qualified me for the waiver of premium benefit on the big insurance policy. They will make the premium payments for me now. I also got a refund on premiums paid last year since I got sick in Sept. I don't need the few hundred dollars of income I'd get from SS anyway fortunately. My electric bill at the ranch is more than my SS check will be when I turn 65. I sold my company in 2004 and retired in 2006 with more than enough to live on--God has blessed us, and my health insurance is very good. I only paid $35 for my last week long visit to the Cleveland Clinic. For those with WG that have life insurance policies, it could be worth hundred or perhaps thousands of dollars to them if they have a waiver of premium rider on their life insurance policies. I had forgotten I had it, so that is why I started the thread about the matter, just in case others had done the same.
Hope your situation improves. We pay taxes all our lives and even after we die (inheritance tax). Seems like it is the Government's time to pay up in your case. Arm movement isn't enough if you are too short of breath or too weak in the thighs to move about with whatever you picked up. Even if you just punch a keyboard, you have to feel like going to work, staying there all day and being able to focus with all the symptoms that accompany the disease. Too bad WG isn't contagious in this case. Then you'd have no problem getting your disability. Maybe a doctor's statement would help your cause with the SS appeal.

[Red]

Thank you for that info i will be looking closer at my insurance policies.