Disability Insurance Frequently Asked Questions

How do I submit a proposal?

The request for proposal form can be faxed 800-636-1302 or e-mailed to Jessica Gaar jessica@hbwinc.com Questions about completing the request form please contact Jessica Gaar (800) 473-3856 ext. 154

Which waiting period is right for my clients?

The waiting period (or elimination period) is the number of days that must elapse between the time of total disability and the time benefit payments begin. Choices range from 60, 90, 180, and 365 days. To determine the best waiting period, ask each client about the type and amount of funds he/she has readily available for income in the event of disability. Another consideration is cost. Polices with shorter elimination periods command higher premiums.

What are the Benefit Riders and their definitions?

The benefit riders and their definitions are included in the Crash Course in DI.

What determines disability?

Many companies define disability under the Own-Occupation definition as: "…because of injury or sickness: You are unable to perform the substantial and material duties of Your Regular Occupation; and you are under the care of a Physician appropriate for Your Injury or Sickness."

Where do I get New Business Applications?

Apps and Forms can be requested via e-mail. Send the request to staci@hbwinc.com Be sure to include the state the application will be signed in and Disability Carrier.

What is the difference between Individual Disability Insurance, Business Overhead Expense and Buy/Sell Disability Insurance?

Individual Disability Insurance: An insurance policy that covers an individual in the event of an accident or sickness, to help replace earnings lost.

Business Overhead Expense: A policy that reimburses the insured business owner, during a disability for covered business expenses that are incurred in the day to day operation of the business.

Buy-Sell (Or Buy-Out): A policy that pays to a corporation or co-owner either a lump-sum or installment payments on disability of an insured owner to provide the necessary funds to buy-out the business interest of the disabled owner.