http://www.paidtwice.com/2008/07/17/long-term-disability-insurance-refund-of-premium-rider/#comment-37577 Lizz Thu, 17 Jul 2008 13:34:01 +0000 http://www.paidtwice.com/2008/07/17/long-term-disability-insurance-refund-of-premium-rider/#comment-37577 I have disability insurance and I have filed a claim. I'm a massage therapist and I own my own business. If I get injured or ill--guess what? There is no working from home or toughing through it. I only get paid when I'm hands-on with a client and therefore needed something to cover myself. The insurance itself worked out well. I had three months due to my pregnancy that I could not work. I ended up getting far more than I had paid into the policy. Therefore I believe that disability insurance is a FABULOUS thing.I'm not so convinced about the return of premium; I read the first part of your post and got very excited. Maybe I would switch! Then I found out the increased cost of this. No way, at least not for me. I would much rather have a lower monthly payment. That way I have the money "freed up" so that I can save it where I want it, apply it to debt (which I still have), or have it for emergencies. What if you change your mind? Most companies make you reapply for coverage if you change your tier or plan. Then the clock starts ticking again. (For exclusions such as pregnancy claims within ten months and so forth.) Plus what happens if you've gone 4 years and 11 months and 14 days and end up dislocating your shoulder? (My policy pays for dislocations and all kinds of stuff in addition to income replacement.) Are you going to skip that claim just so you can get your money back? If you might not use the insurance just so you can get your return, you might as well not have it in the first place.I agree with what Stacey said: insurance is insurance... I have disability insurance and I have filed a claim. I’m a massage therapist and I own my own business. If I get injured or ill–guess what? There is no working from home or toughing through it. I only get paid when I’m hands-on with a client and therefore needed something to cover myself. The insurance itself worked out well. I had three months due to my pregnancy that I could not work. I ended up getting far more than I had paid into the policy. Therefore I believe that disability insurance is a FABULOUS thing.I’m not so convinced about the return of premium; I read the first part of your post and got very excited. Maybe I would switch! Then I found out the increased cost of this. No way, at least not for me. I would much rather have a lower monthly payment. That way I have the money “freed up” so that I can save it where I want it, apply it to debt (which I still have), or have it for emergencies. What if you change your mind? Most companies make you reapply for coverage if you change your tier or plan. Then the clock starts ticking again. (For exclusions such as pregnancy claims within ten months and so forth.) Plus what happens if you’ve gone 4 years and 11 months and 14 days and end up dislocating your shoulder? (My policy pays for dislocations and all kinds of stuff in addition to income replacement.) Are you going to skip that claim just so you can get your money back? If you might not use the insurance just so you can get your return, you might as well not have it in the first place.I agree with what Stacey said: insurance is insurance…

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