We had a rep come in and present their plans to our employees last week. The rates start off reasonably enough, $3-5/wk. each depending on plan, and plan options include: Lump Sum/Critical Illness, Lump Sum/Specified Disease, Short-Term Disability (our company pays 50% LTD, can get up to 20% additional in addition to short-term coverage), Accident Indemnity (injury outside of work).

I view sufficient insurance (and assurance) as a necessary evil. Since my wife has been a stay-at-home mom for going on 15 years now, it's been my paycheck alone. If something happened to me, either outside of work or outside of my current coverage (and didn't lead to my expiration), it'd be nice to know the family would have all of the loopholes filled and not worry about paying any bills without tapping into our limited reserves.

I suppose it depends on how pessimistic you are, and I tend to be. I'm thinking $10-15/wk. pre-tax out of my paycheck might not be a bad idea, especially given my family's shaky health history. No medical exam (since I have no pre-existing conditions), guaranteed renewable and a 6 week probationary period before coverage starts.

Anyone have any experience with the annoying duck?

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1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15
'06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod)

all I know is they have a duck for a mascot that screams their name in both Pain and 'other' activities

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hum.....
1987 300TD 311,000M Stolen. Presumed destroyed

Thanks.

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1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15
'06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod)

any time...any time

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hum.....
1987 300TD 311,000M Stolen. Presumed destroyed

I am scheduled for my required one-on-one interview tomorrow. They have been trying to schedule this for months. First promise was that they would send a rep to my job site as I work away from the office. Well that didn't happen. I have to go in, after work ( my time) to give the rep a chance to sell me his product---talk about a captive audience.
I'll post back after I talk with the rep.

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1982 300SD " Wotan" ..On the road as of Jan 8, 2007 with Historic Tags

That's too bad, I'd imagine that varies greatly depending on the rep. I wouldn't think it would be too difficult to schedule a meeting at your chosen site and time, but then again customer service is one of our (company's) main selling points. Our rep. made a special trip to meet with our delivery driver who is rarely in house during normal business hours.

Thanks.

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1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15
'06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod)

It's AD&D insurance. It's basic and solid, not a scam. They pay, per schedule, for accidents you have whether you're injured at work or at play.

They helped our family out a lot after the house fire. They ended up paying us over $30k due to injuries. They also paid a decent chunk when I broke my leg a few years ago, and again last summer when I broke two toes.

Making the claim is easy enough, fill out a form after calling them, and send it in.

Like I said...they pay per a schedule that they give you when you purchase the coverage, so you know what is and what isn't covered, as well as how much they will pay you and for how long.

I still carry coverage, as does my wife.

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1987 560SL
85,000 miles

Thanks for the feedback, JP. Sounds like you've certainly put them to the test. They seem to provide some peace of mind for the unexpected.

The only unfortunate thing is with my wife being "not employed" for the last 15 years, coverage available for her is minimal (IIRC they require about $9K income to qualify). If she ever went down for a period of time and we required childcare and transportation, we'd be screwed. I'm easily replaceable. Her, not so much.

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1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15
'06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod)

I used to have it but never used it. I guess that's because I'm a young healthy single guy with no kids. I quit renewing it since I figured I'd never use it.

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1984 300SD Orient Red/ Palomino
1989 560SEC
2016 Mazda 6 6 speed manual
1995 Ford F-150 reg cab 4.9 5speed manual

Life insurance and disability insurance are necessary and important parts of financial planning.

Financial planning includes both saving for retirement and managing or minimizing risk.

Parts of risk management including providing for your spouse and children in case you die or become disabled (temporarily or permanently), and are unable to work.

Most people seem to realize life insurance is a necessary evil, but it seems few people actually get it.

I've spoken to very few people who even think they need disability insurance, and virtually no one I know has it.

As far as I know, you are actually more likely to become disabled than die very young.

I think you are wise to be looking at buying these types of insurance.

As far as I know, Aflac is a company based somewhere in the Southeast, and has a stellar reputation.

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Paul S.

2001 E430, Bourdeaux Red, Oyster interior.
79,200 miles.

1973 280SE 4.5, 170,000 miles. 568 Signal Red, Black MB Tex. "The Red Baron".

I carry Short and Long Term Disability, as well as AD&D, in addition to healthcare, dental and optical. I'm using my disability insurance right now. I never thought I'd need it, but here it is.

Ever since I was licensed in 1992 in Ohio to sell insurance (even passed my NASD-6, but decided not to follow that field) I've carried plenty of insurance. Reading the statistics that were published back then scared me into making sure my family is provided for if something ever happened to me.

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1987 560SL
85,000 miles

I met with the reps last nite.
My company will bear a portion of the "Accident" policy which makes it really affordable--like under $15 every pay ( 2 weeks).
The other policies, and there are many, many policies, are a little pricier. I may opt for the "illness" one, not so much for me as for my wife--the payment for each doctor visit ( up to 8 per year) will actually subsidize the cost.

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1982 300SD " Wotan" ..On the road as of Jan 8, 2007 with Historic Tags

I went with the accident and illness family plans. It's less than $20/week, but between my accident prone wife & kids (especially now that they're playing sports) and my family's less-than-stellar health history (+ MIL died from breast cancer) I figured it was probably a prudent expense.

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1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15
'06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod)

From what I understand whats been going on since 07 companies are dropping insurance or forcing the employee to pay for--or more of what the company was covering---Not the other way around. I dont hear of companies adding more supplimental insurance. Are yall on the same planet?

Truth be told we did have to shift 5% of the health premium their way (went from 80/20 to 75/25) back in early '11, but they did actually vote to increase their percentage rather than switch to a less expensive, slightly less comprehensive plan with no increase. Health care costs are a huge burden.

But just as most employees are honest and hard-working, most business owners are the same. All too often we hear about the exceptions.

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1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15
'06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod)