disability insurance

[whasupmd2]

Met vs. guardian: I know that guardian here has been touted as the one of the best disability claims to get. However, I was wondering what people have heard about Met? The premium is quite a bit less, and it provides a higher maxmimum coverage with (at least seems like it, same perks? e.g. I was told their "transitional your occupation" is the same as double dipping that makes Guardian great). I was wondeirng if anyone had any experience with this or heard anything different. thanks!

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[rxfudd]

I know you asked specifically about Met, but I went with Guardian. Just for your comparison, the package I got was:

- $2500 monthly in coverage now (could have done $3500, but didn't want to pay for the increased premiums right now)
- Potential for up to $6500 additional monthly once I'm making attending salary
- 90 day elimination period
- 3% COLA rider (and a second claim would begin at the amount the previous claim ended at)
- Residual disability rider
- Own occ, specialty specific
- Got policy at 26 years old, no health problems, nonsmoker
- $1062 yearly now ($91 monthly), premium increases by a few bucks each year until 35 or so, and then it starts really to increase by a lot from year to year. However, I can lock in at a rate of about $1500 annually for life at this time. That figure will change significantly when I add the $6500 in coverage after residency, and will be more like $3K-$5K per year. Still, will be able to lock that rate in for life at a premium set for the age of 28 (i.e. paying flat $4000 or so per year from age 28 through retirement).

Remember, you must pay for disability insurance post tax for any distributions to be tax free.

 

[zeitgeber]

what's double dipping?