Any Feds have Long Term Disability Insurance?

[starryfish]

I am wondering if it it worth it.....reason I am considering is bc my mom has an auto-immune disease so there is a chance I could get it later in my life....

I calculated premiums for me.....$32 a month for 2 years of coverage at $150 a day with inflation protection OR $45 a month for unlimited years at $100 a day with inflation.

Would you get it? Do you have it?

[ssmjlm]

I asked about this years ago and was told not to worry about it until later in life, like my 40s.

FWIW, MIL says in her experience doing in-home nursing and long term care applications, it seems like a rip-off.

[starryfish]

Oct 20, 2014 12:11:18 GMT -5 ssmjlm said:

I asked about this years ago and was told not to worry about it until later in life, like my 40s.

FWIW, MIL says in her experience doing in-home nursing and long term care applications, it seems like a rip-off.

Yea, i wonder how much the premiums go up then.....The reason I am concerned is bc my mom is now on long term disability now (shes in her late 50s)....and has been on it before (her 20s, 30s and 40s, i think like once a decade it seems)

[Deleted]

Are you talking about the insurance offered through work or a private plan? Because the insurance offered through work is long term CARE coverage to cover the cost of a nursing home, not disability coverage to replace income. There is, however, an annuity (FERS) that could offer coverage if you are found to be disabled.

[rubytue]

Did you just start with the Feds? They only have open season with that every decade or so

I know a bunch of ppl signed up at the last open season about 3 years ago. One of them had a stroke last year and now they are all talking about how glad they are that they signed up.

I don't have it. I probably should bc I'm not a healthy person. I haven't price shopper at all yet. I know many financial advisors say its very important to have.

Eta: this was based on long term care insurance. I think only a few agencies (e.g. Treasury) have disability insurance. Either short or long.

[starryfish]

Oct 20, 2014 12:24:48 GMT -5 rubytue said:

Did you just start with the Feds? They only have open season with that every decade or so

I know a bunch of ppl signed up at the last open season about 3 years ago. One of them had a stroke last year and now they are all talking about how glad they are that they signed up.

I don't have it. I probably should bc I'm not a healthy person. I haven't price shopper at all yet. I know many financial advisors say its very important to have.

Eta: this was based on long term care insurance. I think only a few agencies (e.g. Treasury) have disability insurance. Either short or long.

No i have been here a while....

Crap....it is long term care insurance.....

[starryfish]

Oct 20, 2014 12:21:10 GMT -5 BirdGirl said:

Are you talking about the insurance offered through work or a private plan? Because the insurance offered through work is long term CARE coverage to cover the cost of a nursing home, not disability coverage to replace income. There is, however, an annuity (FERS) that could offer coverage if you are found to be disabled.

can you tell me more about this?

[ssmjlm]

Oct 20, 2014 13:02:20 GMT -5 carrotsmakemefat said:

I feel like a dummy. We have this option? Anyone have a link? I'm curious what it covers & cost. I probably need this, sadly

www.opm.gov/healthcare-insurance/long-term-care/


As an aside, I don't get why the feds don't open everything up during open season. I have the same issue with FEGLI. I had to wait until I had E to change my amount b/c my benefits person told me incorrectly after I got married. DH is a contractor and their open season is for all programs.

[rubytue]

You might still be able to add it. It could be one of those you can add, but with full underwritting. It's just easier/less underwriting with an open season or change in family status.

[rubytue]

Oct 20, 2014 12:31:52 GMT -5 starryfish said:

Oct 20, 2014 12:21:10 GMT -5 BirdGirl said:

Are you talking about the insurance offered through work or a private plan? Because the insurance offered through work is long term CARE coverage to cover the cost of a nursing home, not disability coverage to replace income. There is, however, an annuity (FERS) that could offer coverage if you are found to be disabled.

can you tell me more about this?

google FERS disability retirement. If you are disabled for a year or more, you are eligible.

The "argument" as to why we don't have seperate disability insurance is something like short term is leave donation/leave banks, long term is disability retirement.

[Deleted]

Oct 20, 2014 13:04:25 GMT -5 ssmjlm said:

Oct 20, 2014 13:02:20 GMT -5 carrotsmakemefat said:

I feel like a dummy. We have this option? Anyone have a link? I'm curious what it covers & cost. I probably need this, sadly

www.opm.gov/healthcare-insurance/long-term-care/


As an aside, I don't get why the feds don't open everything up during open season. I have the same issue with FEGLI. I had to wait until I had E to change my amount b/c my benefits person told me incorrectly after I got married. DH is a contractor and their open season is for all programs.

This is long term CARE insurance. It pays if you are in a nursing home and perhaps of you have an in-home aide (I can't remember). But if you're disabled and at home you don't get anything. You would need a private plan for DISABILITY coverage.

[pumpkin]

I know nothing about us having long term disability insurance, but an responding so I can remember this and learn more