The local Aflack rep has been pestering us for a few years, I gave him a few minutes and then a few more to talk to the guys a company meeting.
The guys are interested in going forward, the skeptic in me is questioning if it’s worth it.
Does anyone here have it or have any experience with Aflack? or disability insurance in general.
What “we’re” looking at is short term. It would pay out up to 12 months for any “accident” that happens off the clock.
It would pay out approxiamtely $2200 per month and the cost is roughly $55 per month.
This is something they would pay for as a payroll deduction, the company would only be responsible for sending in the check at the end of the month.
Replies
I'm pretty sure Seeyou has it, he spoke highly of it to me once.
I thought about it often, never pulled the trigger tho'.
Anxious to hear what everyone else says.
Spheramid Enterprises Architectural Woodworks
I have it, but have never used it and hopefully never will. I kept it from my last real job, which was a situation like yours. It was deducted pre-tax ( I only pay $50/qtr, but it's been in force 15+ years).
The biggest reason I kept it after I went back in business for myself was it was hard to get a reasonable regular disability policy on just myself and I had no employees.
It's other advantage that I see, is they just give you the check. Pay the mortgage, buy groceries, put out what ever fire is burning the hottest.
http://grantlogan.net/
But you all knew that. I detailed it extensively in my blog.
thanks for the feedback.
It seems ok, not sure the cost sounds all that great but I don't have anything to compare that too.
The guy's are interested and want to sign up, I just don't want to pull the trigger on something without feeling good about it.
Not that I have a bad feeling right now, just a bit skeptical.
Bottom line is it cost the company nothing other then a stamp once a month and a few minutes time on one more check.
I don't know about their disability. But they are famous for SELLING cancer insurance. And cancer insurance is a big waste of money. There are many other illness that also could use the supplimental insurance and not just cancer.Alot of Aflack insurance is SOLD because someone is pushing it and not bought because someone things that they have a need.What you need to look at is what is defined as a disability. Can't do nothing, can't do their old job, can't do their full time?And how long does it have to exist before they start paying..
.
A-holes. Hey every group has to have one. And I have been elected to be the one. I should make that my tagline.
Bill,
From what I've been able to ascertain from the documents they've sent me, not the glossy brochures, but mind as well be, It's up the insured doctor to determine if they are disabled. Must be disabled from being to able to work their normal full time job. They will not question YOUR doctors recommendation so long as the doctor is not related to the insured.
The policy most of the guys are interested in has a 7/14 day elimination period. They will start paying 7 days after an accident and 14 days after an illness.
I almost wish I didn't give the guy the time to talk to us now, but then again, if the guys want it, and it cost me nothing, who am I to tell them they can't have it?
I'm going to call him on Monday and tell him everything is on hold, we haven't signed up for anything yet, but we're going to at least look at another company before we make any decesion.
Thanks Neil
My BIL had aflak at work and was diagnosed with colon cancwer. He lasted about 2 years, couldn't work the last 10-12 months more than about an hour a day (he was in the accounting dept). He and his family were glad they had it. Apparentkly it also paid almost all of the hospital bills."Put your creed in your deed." Emerson
"When asked if you can do something, tell'em "Why certainly I can", then get busy and find a way to do it." T. Roosevelt
I'd love to have something like that. Being sick fourteen days is a long time though. Do they have options that pay sooner.
Well, you can tell by the way I use my walk, I'm a woman's man, no time to talk. .
http://www.youtube.com/watch?v=Dy3LM5_-i1Q&feature=related
Do they have options that pay sooner.
Yes, they can set it up several different ways, right away disability, after 14 days, or after 30 days. Not real sure on the terms but I have it and I picked the "after 14 days" saves a bit and if I cant weather 14 days then I'm in more trouble then I thought!
Doug
I can weather 14 days but I don't want to if I don't have too. Keep my money in my pocket for other stuff.
What percentage of your pay do they pay?
Well, you can tell by the way I use my walk, I'm a woman's man, no time to talk. .
http://www.youtube.com/watch?v=Dy3LM5_-i1Q&feature=related
the plans we're looking at will pay up 60% of your gross. But the money is tax free so it works out pretty good.
You can decide how much you want to get up to that 60% and it's reflected in your premiums.
That's less the workmans comp. Which brings me to another question. Can you get it to pay if your injured at work? As an extra to comp?
Well, you can tell by the way I use my walk, I'm a woman's man, no time to talk. .
http://www.youtube.com/watch?v=Dy3LM5_-i1Q&feature=related
Can you get it to pay if your injured at work? As an extra to comp?
No, not through Aflac
Yes it is lower then workmans comp but its still better then a kick in the #### with a frozen boot.
Like Neil said, thats not taxed so 60% isnt all that bad. Give up the hookers for a little while and you'd never know the difference in pay.
Doug
The policy I have pays in addition to worker's comp.http://grantlogan.net/
But you all knew that. I detailed it extensively in my blog.
The policy I have pays in addition to worker's comp.
Grant, I was told specifically that I cant collect on my policy if its a work related injury(where workmans comp covers the loss) but I'm wondering if were talking about the same thing. I have the lost wages type policy, not the cancer(which obviously isn't the one your talking about) but is it possible that your referring to the simple accident policy, the one that pays out for every thing that happens weather or not it takes you away from work?
Just wondering
Doug
Edited 5/12/2008 10:54 pm ET by DougU
but is it possible that your referring to the simple accident policy, the one that pays out for every thing that happens weather or not it takes you away from work?
I'll have to check. It makes no difference in my case, since I don't have WC on myself. IIRC, I have to be unable to work. It's been in place 15+ years, so they may no longer offer the same policy.http://grantlogan.net/
But you all knew that. I detailed it extensively in my blog.
Yes...
You can collect if your getting workers comp.
Part of the premium you pay is based on the risk level of your job. So, evidently you will be paid if you get hurt doing what you're rated to do.By the way, the cancer policy is well worth looking at. It will pay along with disability while you endure cancer treatment and surgeries. This helps cover the additional cost that always occur.Pete
Not that I know of. As far I've been told it is only for accidents that happened off the clock.
So I told the guys they damn sure better clock out an hour or so before the plan on getting hurt ;)
Ask what there loss ratio is. This will give you an idea if people collect or they pay super commission.
One of the companies I worked for once offered it. After listening to their sales pitch I came to the conclusion it was a ripoff. It seemed to me that they only charged a minimal amount in order to make their rates look really low. But the amount of stuff they covered was so narrow that they would hardly ever have to pay off. It seems to me they know exactly what they're doing. Heavy on the marketing and hype. Make sure it's set up as a payroll deduction so the people don't think about it. And make sure the rates are really low so the employees have little reason to put a lot of thought into canceling it. I never heard if the employer got a percentage for handling the paperwork, but wondered about it...
We can't do everything at once, but we can do something at once.
They guy didn't mention a percentage going to us, if he had I'd have ended the meeting right then.
Not because I'm adverse to money, it would have had less credibility though.
The last employer I had really pushed it - That's why I wondered. Otherwise I figured there isn't much of a reason for an employer to waste time offering it.
Victory in battle is 90 percent preparation and 10 percent taking care of unanticipated emergencies. [James Dunnigan and Daniel Masterson, "The Way of the Warrior"]
Otherwise I figured there isn't much of a reason for an employer to waste time offering it.
Maybe the place just gave a shid about there employees! I get other benefits that my boss don't have to give me.
Doug
Neil
I have it. We just recently was introduced to it at work. There are I think three different type planes. One for cancer, one for disability and another for any type of injury( I really don't know the name for this one).
I was strictly concerned about injury off of work, doing a lot of stuff on my own home I know the chance for injury is greater then if I golfed every weekend.
I picked a disability that pays out after being off 14 days( I think that's the plan I chose). You can get it for first day off due to injury, after 14 days, after 30 days, Hope I'm remembering those terms right. Obviously the cost for the policy is reflected in which one you chose. Also you age has something to do with the cost. All kinds of variables in there!
I specifically asked about what constitutes the disability and the agent told me, "anything that physically prevents you from working"
The guy that came to our shop explained the cancer one to us and that didn't really interest me so I didn't pay that much attention to it, one of the guys I work with has/had preexisting cancer so he doesn't qualify, I think you have to be cancer free for 5 years before they will sell you a policy.
My boss discovered he had a form of cancer shortly after we got our plans, he didn't get the cancer plan! Shid out of luck!
The other plan that you can get, the one I don't remember what its called pays out for all kinds of stuff. Hurt your back scooping snow and go to the chiro and you get a check, stuff like that. Again, that plan didn't interest me, I'm only looking for a disability insurance in the event I get hurt outside of work so I wasn't paying a lot of attention to the other plans.
I feel good knowing that I have the insurance and I feel Aflac is a good company, heard good things from people that have had it. Draftsman at work said that his father had Aflac and came down with some form of cancer, received his checks regularly up until his death.
Doug
Thanks for the feed back.
The other insurance is simply accident insurance.
The salesman didn't mention or push the cancer the insurance.
Look at it this way.
You said it. It only takes a little effort to withhold the premium and send it in.What if you poo poo the idea and someone gets hurt or a family member is diagnosed with cancer...then how do you feel?We have the cancer policy and I have used it 2 times. Luckily only a
small spot on my cheek (too much sun). The diagnosis paid $100 then, I think 25% of the cost of surgery which paid me 6 or 700 dollars. We also get $75 each each year when we get our physicals and testing for PSA, mammograms, etc. No biggy, but helps.Cancer is very prevalent in my wife's family- not so much in mine.Let your people decide.Pete
What if the person has heart problems, kidney disease, goes into a vegative state from a car accident, black lung disease, mad cow disease, etc?A cancer policy won't pay a penny for any of those..
.
A-holes. Hey every group has to have one. And I have been elected to be the one. I should make that my tagline.
Well you are correct. I do have a rider on my policy that gives hospital benefits for 22 other illnesses. Addisons disease (adrenal hypofunction), ALS, Cerebral palsy, and more. Aflac site probably will show all coverages for those interested$200/day hospital benefit up to 31 days and $500 after 31.There is no perfect plan for everything but I feel better with this pollicy.That's why we all have choices.Pete
Edited 5/13/2008 8:56 am ET by gotcha
Are you worried about cancer Bill?
My family is very prone to heart attacks . Brother and Mother died at 49 . Dad died at 76 but its all heart related. I had my heart atttack at age 49. Weird, but thats the reason she bought the Aflac policy in addition to Blue Cross Blue Sheild.
Tell me if Im wrong . Long term disability is SS and medicare . I cant see a reason to buy long term disability. Additional income ?
I dont have it anyway as I said what kind Ive got .
Tim
SS is long term, must be over 1 year. I have been out of work for 2 years in July, applied turned down(turn down 95%) waiting for up to 2 years for a hearing.
Don't depend on recieving it in a timely manner.
OK and thanks .
"Are you worried about cancer Bill?"No. And apparently you aren't either.As you said that you have heart and related problems. My point is that if you feel that you need suplimental insurance then you need a policy that covers all conditions, not just cancer."Tell me if Im wrong . Long term disability is SS and medicare "Look at the metlink link that I posted above. One of the side bars links give much better details than I can give.SS is more restrictive than most LT disability policies..
.
A-holes. Hey every group has to have one. And I have been elected to be the one. I should make that my tagline.
A guy cant afford all of it .
I made good money on what DW bought is all I have to say. Mine was selective because I was at risk of heart trouble with family history. We didnt know we would use it that quick. I didnt have cancer in my family at all at the time . Brother has it now but he was stupid . Colon cancer. He knew he had it for 10 years and did nothing till he went down.
Anyway I dont figgure cancer insurance would be a good gamble or paying for an insurance that covered everything . JMO.
How much would such a policy cost?
Tim
I have no idea of the cost.And as I mentioned on AFLAC's website they did not really give any clues as to what they covered except in very, very general terms.For these kind of situations I think that the short term disability polices might be a better option. But they only pay for replacement income. I have no idea of what how when or under what conditions that the cancer or heart polcies pay..
.
A-holes. Hey every group has to have one. And I have been elected to be the one. I should make that my tagline.
I had short and long term disability at my previous employer and it was a godsend. Payroll deduction so I didn't really miss it. Had two hips and a knee replaced over the course of about a year or so. We could had survived on DW's salary alone but having the disability eased my my mind and I could concentrate on rehab and getting back to work.
Well I put the breaks on signing up last Sunday and told the current salesman to eat it on Tuesday.
I sent him an e-mail on Sunday night saying I want to slow down and not enroll right this second, I want to do a little more research and take some time looking at our options. I told him it wasn't a definate no, or even a probable no, I just wanted to slow down a bit.
This jackasz proceeds to call all my guys directly and tell them I had said no and to put pressure on me to sign up. He didn't bother to call me first. I called him and left him a nasty voice mail with the basic point being I was pissed he went behind my back, it was professional but the tone got the message across.
He e-mailed me back saying he wasn't going behind my back, he was concerened the guys might think they had coverage yadda yadda.... I shot him an e-mail back saying he was full of it and thought it, it was a bad sales move IMO, he obviously didn't care about service he was more concerned with closing, and it was feable he didn't have the stones to call me directly and decided to e-mail instead and left it with I was done with him.
so the search continues.
The commision must be huge on Afflac. Residuals i suppose. Every month.
We have salespeople callling I'll bet every week. Drive me nuts.
That "agrees" with what I have heard. It is typicall Sold by a salesman and not bought because people want it..
.
A-holes. Hey every group has to have one. And I have been elected to be the one. I should make that my tagline.
The guys seemed interested in disability insurance, so I'll persu other alternatives, I may even look at Aflac closer, I'll be damned if it's with the same guy though, he can KMA.
It is typically Sold by a salesman and not bought because people want it.
Not in my, or anybody that I know of personally that has it, experience.
Doug
Hm now Ive read your pizzed off post about the agent .
Dont really blame you there but has nothing to do with the insurance . Its some good shid. Im done braggin about it .
I have had the same feelings as you over real estate agents this past week. All they want to do is sell no matter what . Sounds like this agent as well you got ahold of. So Ill write this ;
DW managed around 12 sales persons on commision and by the hour . They graduate up to commision and it really reminds me of kicking their arse out of the nest. They have a year to make it or their gone .
We are trained to turn out a days work and get it done . Doesnt matter really what problems exist , we must make somthing happen to draw pay. Construction aint no goverment job. Were used to that and very well conditioned. Its just the way it is .
Sales people that make a living off strickly commision are mostly like our recent experiences. They dont get it done by being meek and sweet when they run into stops like you and me . I still dont like it but its the nature of the beast.
Tim
I understand the nature of the beast and all that, I just won't put up with it when I don't have to.
I may still give Aflac a chance, I do want to look into at least one other company to get a sense of cost and if what we are getting, at the rates they are quoting, is a fair deal.
I may even give the salesman another chance, not sure yet. He did call the other day to apologize but I was in the middle of lunch and told him I'd call back. I haven't had a chance to call back yet.
What is the logic for only 1 year disability coverage and not longer.
.
.
A-holes. Hey every group has to have one. And I have been elected to be the one. I should make that my tagline.
Bill
For the disability insurance, that's what I have, all of the policies go forever(or as long as you keep paying the premiums), its only meant as a short term disability insurance. I guess if you want something long term then you'd have to look into another type of insurance. That doesn't mean that if I get seriously hurt and use the insurance for 11 months then go back to work I cant use it again for something else, I can, its just a short term disability insurance. Short term being defined as 12 months max I guess.
The cancer insurance that they have goes on for as long as you have the policy, same as the injury insurance.
Doug
"For the disability insurance, that's what I have, all of the policies go forever(or as long as you keep paying the premiums), its only meant as a short term disability insurance. I guess if you want something long term then you'd have to look into another type of insurance."Long term disability insurance is still disability insurance.But my questions is why just short term?This and the other links on the side bar give more information on the types and coverages and limitations.http://www.metlife.com/Applications/Corporate/WPS/CDA/PageGenerator/0,4132,P1794,00.htmlAs far as Cancer insurance I see absolutely no need to that. There are many other illness and accidents that one could use the suppliment income other than just cancer.Here are 2 guides on cancer insurance.http://oci.wi.gov/pub_list/pi-001.htm
http://www.cancerpage.com/news/article.asp?id=1313And I went to AFLAC's small business page and tried to find out more.https://www.aflac.com/us/en/aflacforbusiness/smallbusiness/default.aspxAnd I could not find any information on what kind of cancers that they cover, what the payments are, what the waiting time is, how long they pays are far etc.And I see that they offer cancer, accident, confinment and specified healt event. Maybe if you had all of those then you might have some reasonable coverage..
.
A-holes. Hey every group has to have one. And I have been elected to be the one. I should make that my tagline.
I'm not an agent for Aflac, nor do I profess to be.
I bought Aflac for the short term disability insurance. I know that I could have probably found a company that offers long term( at least I think I could have) insurance.
I'm more concerned about short term disability, I do a lot of work on my own places and some stuff on the side where I'm not covered by workmans comp. I want to know that if I'm hurt falling from a ladder or some such accident that I'm still bringing in some cash. If the accident is long term then I'll deal with that when that time comes. Statistically speaking most accidents are short term(relatively speaking of course), that's why when I bought my insurance I opted for the "after 14 day" disability plan, I pay a much lesser premium then someone that gets a check on day one for their accident. I could have saved even more if I'd of opted for the "after 30 days" plan.
I don't have the cancer coverage, probably should because its pretty prominent in my family, and I don't have the injury coverage because I'm not worried about getting a check if I go to the chiro or the doc for a stubbed toe, I can handle those expenses so they didn't interest me.
One big reason that I purchased Aflac is because I know that this year I'm going to have to have an operation on one or maybe both feet. I know that this is a 6 week recovery thing, I know that I will receive payment for any time after 14 calendar days I'm off work if the operations take place(good chance for that happening).
I know the agent said that they used to, I think it was/is being discontinued, cover pregnancy as part of their coverage, I think you got a check for X amount of dollars. People that were planning on having children were buying Aflac just for that reason, get pregnant - get a check. Don't know the details but someone at work was talking about it.
Maybe there are better insurance companies out there that cover better, don't know. I do know that for my purpose this seams to fit.
Doug
Edited 5/18/2008 6:31 pm ET by DougU
I live in a state that requires short term disability insurance. this covers accident as well as illness.
In a previous post, I told people to look at the payout ratios. The last time I looked the payout on accident dis. policies is only around 60%.
This tells me that this is a big money maker. A true disability policy covers, accident, sickness. Separate policy makes no sense.
The Hartford, the Met as well as prudential sells or have sold these policies in the past.
My advise is to contact the insurance broker that supplies the reg. business policies. They will advise you much better than a salesman for an individual policy.
the reason, they represent many different companies.
I hate one company insurance salesman, because they have one co. policy they try to make fit.
As far as strict accident policies there are some very cheap companies out there. I believe that you could even explore on the net for insurance policies.
How do they "require" short term disability insurance? Does everyone from 1 month to 99 have it?Or is it required as part of WC and if so is it only good on OTJ incidents?Or is it required as part of individual health insurance polices?.
.
A-holes. Hey every group has to have one. And I have been elected to be the one. I should make that my tagline.
>>How do they "require" short term disability insurance?<<Yes, can you elaborate on that, frammer?I'm in NY too as you know. I'm self-employed LLC. Not licensed. (not required here). I have no WC, no disability. I have only general liability insurance. I buy my own health insurance, very high (2500 dollars) deductible.Steve
To have a payroll it is required to have disability insurance on your employee. It is very reasonable, 130/yr. 6mth. only.
Yes that seems very reasonable...a no brainer if you ask me. I have no employees. I have another member of my LLC. We are responsible for our own everything. No WC, no UI, no disability, no health. Only whatever each of us wants to or is allowed to buy for ourselves.Steve
yes. 6 mth policy. employee can be charged .60/wk.
Does not pay for on the job injuries.
Not part of health policies. Go to the Met web site, and it is explained better.
I could not find anything on the Metlife site.but this explains it.Not very mucy coverage. Max of $170/wk payment.http://www.insuranceplusny.com/NY_Mandated_Di.html.
.
A-holes. Hey every group has to have one. And I have been elected to be the one. I should make that my tagline.
Broken legs, surgery time off, etc. Aflac doesnt offer long term, I'd like to find a company that offers both, from what I understand they are independant of each other and cover different things.
Yes, short and long term disabilities are different. But according this, depending on the details of the plans there is can be overlap.http://www.metlife.com/Applications/Corporate/WPS/CDA/PageGenerator/0,4773,P1797,00.htmlAnd while this does not mention it there is possible some difference in the definition of disabilities.From what people have posted here the short term is fairly "liberal". From what I have seen in long term it depends more on the details of the disability and exactly what the policy covers. Some provide training for other occupations for example if you are still able to work, but just not in that same job.At the main "portal" for small business Aflac does not even show any disability insurance.https://www.aflac.com/us/en/aflacforbusiness/smallbusiness/default.aspxBut if you click on Browse all insurance policeis they show both short and long term.but then clicking on the long term I see that it is not disability but long term care.But I don't think that it qualifies as "nursing home" insurance. But hard to tell from their description..
.
A-holes. Hey every group has to have one. And I have been elected to be the one. I should make that my tagline.
SS would kick in after one year? Bob's next test date: 12/10/07
As I said look at the Metlife link. It goes into more details. SS definition of disability is much stricter than what many disability polices cover..
.
A-holes. Hey every group has to have one. And I have been elected to be the one. I should make that my tagline.
My inclination is that any co. with dedicated agents selling only one policy are not necessarily looking out for my best interests
$170 wk is not much but is better than what 46 states that don't require anything.
I still say that the loss ratios tell a person if the insurence is a good buy, or necessary. I could give specific examples but don't feal comfortable giving them in a public forum. Email is much better!
$170 wk is not much but is better than what 46 states that don't require anything.
Your right. Can you imagine my surprise when I moved to Texas and found out that an employer doesn't have to carry workmans comp on his/her employees! Makes you be a little bit more careful at work.
Doug
Damn careful
Can they sue their employer then?
I worked for a guy for a short term while living there, never had any workmans comp, btw, only state in the union that doesn't require it, he rented his building, had shiddy tools, probably gave himself a bonus every time there was more then $50 in the bank account............
We used to joke that if we got hurt and had to sue we'd be happy just taking the three for four router bits that had not been sharpened more then 8 times!
Laws are definitely set up for the employer. So yea, you can sue but I doubt you'd get anything from some of these guys, they know how to keep the money away from the business.
Doug
methinks I would find a state to live in that requires it!
That is just wrong in this day and age.
I dont live there anymore, back in Iowa where I belong.
It is hard to believe that a state can still get by without something as simple as workmans comp but there it is..........only in Texas.
Doug
Common practice in TX is to call employees "contractors".
This also avoids any tax withholding, etc.My son fell off a two story mansion under construction.
Compound fractures of both wrists and left elbow, right foot practically destroyed, left knee damage to both inside and outside. This was 7 years ago. Luckily he had medical. My wife and I paid most of their bills for a long, long time. One of the reasons we are still working after retirement age.The general contractor had all his paperwork in order showing that my son's boss, if anyone, the framing contractor was responsible. Of course he had no insurance and really is almost as poor as my son.Pete
Someone had to have ins.. tHIS APPEARS TO BE A TERRIBLE WAY TO TREAT WORKERS.
If the GC had ins. I would think that he would be liable. I tell you what, in that situation I would be calling every agency that I could think of. IRS espcially. Someone has been misclassified as a contractor. No GC worth his salt would allow an uninsured contractor on his site.
Saying this I am sorry for you!
No way to fight it. OSHA would like to help because of all the worker injuries.
With all the Hispanic workers here, Parkland Hospital (county) ends up fixing up a lot of non pay injuries (and babies).The GC gets paperwork signed off that all workers are subcontractors.The IRS had 10 rules to determine if a worker was an employee or subcontractor. They were never enforced and no one would have passed inspection.Pete
The rules of the IRS do not necessarily dictate what the rules of liability are. You can't automatically mix them up and use them as the logic behind who's liable. Bob's next test date: 12/10/07
Correct.Frammer had just mentioned turning them in to the IRS.Not mixing. OSHA said they would like to help but really have no authority on residential construction.The house my son fell off of was a 2 story 10,000 sq ft home. Same neighborhood Ross Perot and Mark Cuban live in.Pete
OSHA does have authority in res. construction, otherwise I want my fine money back!!
The rules will be enforced if you complain, saying that they are willfuly evadeing taxs, the best part, you are entitled to 10% of whatever he owes.
If the contractor tells people he is insured, if not, he is then guilty of stealing.
OSHA has the right to penalize a contractor whit a large $ fine. I know, they have to want to.
OSHA has the right to penalize a contractor whit a large $ fine. I know, they have to want to.
Shop I worked at in Texas violated about every rule there was! CPVC for air lines, no safety coverings on belt driven stuff, improper wiring, no safety stuff for table saws,...........I guess they(shop owner) fired someone once and that guy called OSHA and reported all the problems, OSHA called the shop owner and told him about the report, said that they were supposed to come out and check on it but figured that it was just a disgruntled employee and wondered if they needed to come out? WTF, OSHA called the damn owner and asked if they should come out? What did they think the owner would tell them. I figured that down in TX you were probably fired retroactive to any injury!
Doug
better ask for the supervisor next time or regional office. I thought they were under obligation to investigate, I guess I was wrong, at least in Texas!
The number of companies actually investigated is minimal.Pete
at least in Texas!
I think that pretty well sums it up!
Doug
This is the biggest problem with Aflack.
They have a huge number of agents. They can worry a company to death.I do think it offers good products. Find another agent. There are good ones out there. Some independent agencies offer the coverage and they aren't out harassing folks.Pete
Im your man.
Its cheap as a broom if you have the extra money for it . Solid company . They pay up with out any hassle. DW is asleep right now but she knows and remembers where I dont . She had paid the policy the first month and I had a heart attack. There was a stroke , HA, and another HA they paid out 5 grand apiece to me as addtional insurance . I think what I have is to pay the 20 percent health care INS doesnt and it pays by incident . Close enough to call that dog treed.
Every time one of them happened she would call them. Every time we got a check immediately. For real. DW did it with them so I dont know squat about that but it happened. 15 grand on me and one deal for her for a total of 20 grand and some extra stuff I dont remember just what . I remember emergency room and then ambulance for a 100 miles to Little Rock to the heart hospital.
After the year was over I owed 47,000 the insurance didnt cover on just me . Aflac helped me by paying 15 grand in checks that went to the deductable . I paid the rest but Ill note , she only paid aflac one payment of somthing silly like 50 bucks when it happened.
Like I said , If you can spare the money you wont miss it . If somthing happens and you dont have it you could be set back for life trying to recover financially. Some people never do. I should sell the dadgum stuff !
Tim
After all that,....
To answer the original question, Yes, you should have it. One in four people suffer some form of disability on their way thru their career. Them's pretty high odds.
Disability insurance comes in two forms as many have suggested. Short Term (for times less than 90 days in duration), and Long Term, which by definition kicks in after 90 days. Obviously, full protection includes both. Rates are different for each type.
Commonly this insurance is best priced and distributed via group plans. Such as employers. But you'll also come across offerings in professional associations, alumni associations, and some service clubs. Sometimes if the association is large enuff, the rates can be quite attractive.
Wise decision to avoid this rep. You must have more information before making a decision.
This is not a small process. It is best divided up between the guys in your group.
The first step is to find out which plans are offered in your state. Insurances are controlled by the state, not feds. Your state insurance commissioners office has a full list of which companies offer which type of insurance in that state. Contact them and ask for a list of allowed providers and any information they can provide on each. They may have a web site.
Take this list and divide it up equally among your guys. Have them make an introductory call or contact for basic information on their disability plans.
Create a spreadsheet of the responses. Each row will represent one company's offering. Each column will represent a particular characteristic of that offering. Elimination period, exclusions, conditions, etc. Whatever that offering offers and whatever your guys are especially interested in. Not too much emphasis on prices at this stage.
Complete that spreadsheet. No rushes, just get all of the information your guys can possibly obtain within their interest level and job allowances. But do have some deadline so the project doesn't die. Say a month.
Now sit with your guys and discuss which of the characteristics are most important. Give the most important one a score of say, 10. The next most important, a 9. The next an 8, and so on. The column is titled the characteristic. The score in the cell right below.
Then rate which company has the best terms of each column. Rate them as "Meets the need, Qualifies the need, or Doesn't apply."
Any that meet the need get a value of 2. Qualifiers get a 1. The rest get a 0. Multiply this value by the characteristics score.
As you'll see, a composite score is being formed for each company's offering, with the highest composite providing you with the best policy(ies).
Now among those highest scoring companies, get them to bid for your business based upon the number of covered employees. Best price wins.
But that's not the full story.
As Mooney implies, there exists a "selective" part of the population that is more likely to suffer an insurable loss. This is why insurance companies have medical requirements. If you got a small group, all of your will get the "finger exam." Larger groups have exemptions for this requrement - IF the person signs up within the enrollment period. Outside the enrollment period and the medical exam may trip you up from those low prices and you'll become "higher risk" and thus higher priced.
So if that's important...