Do I pay an additional fee by using a broker to obtain disability insurance?

One question we’re often asked is, “Do I pay an additional fee to use a broker to help me obtain disability insurance?” In short the answer to this question is ‘no’. Disability policies, definitions and premiums are filed with each state’s insurance commissioner. As a result, the cost for individual disability coverage and the accompanying riders is the same if you work with a broker or go direct to the insurance company. However, the top insurance companies have discount programs they make available through their key brokers. In other words, not all brokers…

What is COLA and how does it work?

  A common question many people have is, “What is COLA and how does it work?” COLA stands for the Cost of Living Adjustment rider. The COLA rider is designed to increase your monthly disability benefit while on claim to offset the negative impact of inflation over time. The benefit increase is calculated on either a simple interest or compound interest basis. The amount of increase can be a fixed rate, such as 3 percent or 6 percent. Or the rate can be variable, in which case it’s usually tied to a national…

When my wife and I first met Billy, it was to obtain disability insurance for her - soon after the first meeting, we realized that my plan with a different carrier wasn't even close to as good and that I needed to switch. From there on, Billy has helped us with disability insurance, life insurance, and has been available to answer questions pertaining to everything from insurance to retirement planning. He is available, affable, and always willing to answer questions -- just wish more people in his line of work were so trustworthy! He gets our highest recommendation and we have already sent a few of our friends his way!

-Dr. Crowner, Vascular Surgeon

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