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Keeping Out Of The Premium Paying Poor House

Ontario, CA - Disability, long-term care and life insurance policies promise to pay should the unthinkable happen. Unfortunately, they can also put you in the premium paying poor house, says Frank N. Darras, the nation's leading disability and Long-Term Care insurance lawyer.

Folks making decisions that affect the rest of their lives either sign up and hope for the best, or the entire process gets pushed aside in the wake of job responsibilities and caring for a family.

See http://www.darrasnews.com/.

Darras says, "Completely understand what you are buying and pay close attention to the fine print; have legalese translated into simple English so you're sure you get what you are promised. Be certain that the representations in the sales presentation and in company brochures match the language in your policy."

Darras offers these tips:

DISABILITY INSURANCE

  • Get your disability coverage when you're young and always obtain the longest benefit period possible that protects you in your "own occupation."
  • Do not rely on your group insurance policy from work to protect you, as ERISA provides little consumer rights or remedies.

LIFE INSURANCE

  • If no one depends on you for income or financial support and you have enough money for burial and funeral expenses, life insurance may be unnecessary.
  • If others depend on you for support, the peace of mind and security of knowing you are leaving your loved ones financially secure, should make paying the premiums worthwhile.
  • Have a reliable second party listed on your policy so they can be notified in the event you miss paying a premium. This waiver of premium should help prevent the policy from lapsing and you from losing life insurance you have paid on for years.

LONG-TERM CARE

  • Around your late 50's is when you need to start considering individual Long-Term Care policy options.
  • Understand what services the long-term care policies cover and determine who can provide the care and where and for how long.
  • Understand the policy terms custodial, intermediate and skilled care and consider which type you may need and how soon.
  • Never buy from a company you don't recognize! What good is a policy with really cheap premiums from a company that won't be in business 20 years from now?

For more information see http://www.sbd-law.com/ or call 800-458-4577.

NOTE TO EDITORS: Darras available for interviews.

Contact: Robin Nolan, 650-279-9512, robin@mcdavidpr.com or go to http://www.darrasnews.com/
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