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Disability Alternative Action Facts
By: Michael Oliphant

In my opinion, there are many pitfalls with disability or debilitating events that take place today.  The pitfalls being lack of "know how" of what to do if it should happen.  However, there are good programs in the market but those are difficult to find on your own.  Unfortunately, these products that perform the way they should don't offer much incentive to the broker community to market and sale within their insurance portfolio products.  I would like to address some basic concepts and resolutions to "disability or debilitating events" available. They are frequently overlooked.  It is important to understand what exactly disability means first so please click this link (disability). 

Now that you have a clear understanding of what "disability" means in insurance language, let me offer suggestions for resolution by posing you with a question.

#1 What if you were disabled to the point of not being able to work and therefore could not afford to pay for your health insurance policy?

Lets assume for the moment that you are in this situation.  Lets also assume you are laid up in the hospital in a body cast, coma or paraplegic.  You or a loved one could go to the hospital administration office and they would gladly pay your insurance premium for you.  Why?  well think about it...it is a smart business move for them because your policy stays in force (active) to pay their medical charges for your care.  This is how you get the high dollar bills paid.

Lets assume now that you get out of the hospital and its not likely you will be going back for further treatments.  In other words...you were released from care.  Now more than likely you will have major follow up with some type of physician.  Say it is with a physical therapist.  Now....at this point the hospital does not have a continual reason to pay your health insurance premiums because you were released.  Right?  So assuming you cannot afford to pay your insurance premiums you can approach your physician for assistance.  This is tougher to do in most cases because their cost of providing you care could equal what they would pay out in premium.  The hospital would pay a small premium to get paid several thousands of dollars for your care.

Point I need to make at this juncture of understanding

I certainly don't want to appear to be instructing people how to abuse this system.  If you can HONESTLY afford to pay your insurance premiums due to defined "disability" than that is the right thing to do.  In addition, the hospital and or doctors will need evidence of your inability to pay your premiums. 

All too often I read in the paper or hear about really sad incidents where people are totally disabled.  Their insurance policy lapses during the most critically needed period to pay claims because of inability to pay premium. Believe it or not these same people can't seem to get financial assistance from immediate or extended family.  So what do they do?  What can they do?  Generally they are dealing with emotional trauma and the financial things tend to fall to the way side.  They ignore the fact that if you don't pay your premium the health insurance coverage cancels.  Period! The insurance carrier will hold fast.  So if you or someone you know falls victim to an unfortunate "disability or debilitating event" please rush to their aid and do the right thing.  All too often, serious injuries that are debilitating go on for several months during which time their policy could lapse or the victims loved one doesn't know what to do with mounting bills.  Please help yourself and help them.

Did this article inform you?  Drop me a line on your thoughts.