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Top Long-Term Disability Insurance Companies

Long-term disability insurance is one of the most vital types of coverage everyone should have. This ensures financial security when a misfortune prevents one from working. However, purchasing from the top long-term disability insurance companies is as important. 

Top Long-Term Disability Insurance Companies

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To enjoy maximum utility and the best services, you need to know the company you’re purchasing insurance from. This post will show you the top long-term disability insurance companies to patronize. It will give details on them to help you decide to stick with it to the end. 

Below are the top long-term disability insurance companies:

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Guardian 

Guardian offers short-term disability insurance and customized long-term disability insurance coverage, such as the Provider Choice plan. This flexible plan includes a hospice care benefit, occupational rehabilitation, and non-cancelable and guaranteed renewal. 

You can add optional riders such as catastrophic disability, cost of living adjustment, student loan, and retirement protection. 

It offers benefits for two, five, or ten years, or until 65 or 70. Plans are assured renewal until 65 or 70, subject to specified regulations and circumstances. You must speak with an agent to make a transaction. 

Guardian Life is a large corporation. They have about 2,750 agents and 58 locations across the United States. 

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Before looking for disability insurance, know that Berkshire Life Insurance Company of America is one of its subsidiaries.  It offers disability insurance products. Berkshire Life offers individual plans, group plans, disability insurance for business owners, and supplemental products.

Breeze

Breeze simplifies the online transaction by prompting you to check your price on the internet. 

You don’t need a medical exam if you’re under 50 and have monthly coverage of less than $4,000. The maximum coverage amount is $20,000 per month. 

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You can renew policies until 65 or 67, though elimination or waiting periods differ. However, you must be up to 50 years old when you purchase.

You can purchase a Breeze long-term disability coverage everywhere in the United States except in New York. There are further options of severe illnesses, catastrophic incapacity, your vocation, and others.

Northwestern Mutual

Northwestern is especially useful for self-employed people because it offers a wide range of customization options. It provides coverage for part-time employees, home workers, and self-employed medical professionals, which is challenging to find with other carriers.

Northwestern Mutual is a well-known and long-standing provider with an A++ rating from AM Best 4. It has an A+ rating from the Better Business Bureau (BBB), making it a top self-employed long-term disability insurance provider.

Although Northwestern’s website contains information on short- and long-term disability and long-term care insurance, you’ll need to contact a local agent when you’re ready to buy a policy. They offer this service throughout the United States. 

Assurity

Insurance policies cover people in a wide range of employment, from office work to laborers. This is regardless of whether they are in dangerous occupations. Assurity was our top choice for high-risk vocations insurance because of this criterion and low policy premiums.

When assessing Assurity’s financial soundness, keep in mind its A- grade from AM Best 6. It is less stable than some of its competitors because it has the fourth-highest rating.

You can get quotes from Assurity online, but you’ll need to buy a policy from an insurance agent. With 30-day, 60-day, 90-day, 180-day, and 365-day elimination periods, policies are guaranteed renewable until age 67.

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Principal Financial Group 

Principal only requires 20 hours of work each week to be eligible for a policy. With its Simplified DI policy, there is no need for a medical exam. Instead, they’ll quiz you over the phone, and coverage will be authorized or rejected in days.

Principal provides disability insurance coverage in the United States with monthly benefits of up to $20,000 per month. You can only borrow up to $6,000 if you choose the easy underwriting option. 

With Principal, you may choose the level of protection you want. Basic insurance with $700 to $800 in monthly coverage costs $35 to $60 per month. 

More comprehensive coverage can cost up to $220. However, they’ll pay you $2,500 in monthly installments if you submit a claim.

Policy details vary greatly, with 30 to 365 days of elimination periods. It has benefit durations of two or five years, or until 65, 67, or 70. Renewability varies depending on the policy.

MassMutual

MassMutual began in 1851, so it isn’t a newcomer to the insurance sector. They have not only been in business for well over a century. A.M. Best and the Better Business Bureau have given them high-quality ratings.

It includes elimination periods of 60 to 730 days and benefit periods of 2 to 10 years. It also has a maximum age of 70 in its policies. 

This organization considers impairment to be job-related, suggesting that you cannot execute your job, not just any job. MassMutual offers a True Own Occupation rider, which modifies the rules for paying out the plan. 

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Mutual of Ohama

Mutual of Omaha provides several benefits, some of which are in their plans. For others, you can add to your policy if you want more coverage. Their long-term disability insurance policies have a total disability income benefit and a premium waiver rider. You can also have a proportionate disability payout, and they guarantee renewal until you’re 67.

If you’re still working full-time at 67, they’ll cover you until you’re 75 years old. There are many additional built-in benefits. 

They include a terminal illness benefit, a rehabilitation benefit, and a survivor benefit, to name a few. Other riders are for the cost of living, catastrophic illness, and premium return. 

The Standard 

The Standard is the place to go if you’re seeking something different. This disability insurance company offers several options, but Platinum Advantage is their most popular individual disability insurance option.

This coverage stands out from the competition since it includes no-cost riders and bonuses like the Family Care Benefit. Sometimes, you may have to take time from work to care for a family member who has a severe illness. 

If you lose 20% of your income, you may be eligible for a monthly payment. This feature is not available anyplace else. 

This company also offers two other riders to qualified applicants: an automatic raise and a benefit increase rider. The automatic rise rider will increase the monthly benefit by 4% each year for the first six years.

The benefits increase rider allows you to raise your coverage every three years. You won’t have to go through the medical underwriting process again.

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