Who Offers the Best Disability Insurance?

Shawn Plummer

CEO, The Annuity Expert

Best Disability Insurance Options

1. Assurity

  • Target Occupations: Excels with blue-collar (mechanics, plumbers, electricians) and white-collar (IT, office jobs) workers.
  • Small Business Owners: Offers an occupational class upgrade if the business has been owned for over 2 years and earns more than $30,000 annually.
  • Income Verification: No verification is needed for benefits up to $6,000, subject to certain conditions.
  • Riders: Over 7 riders available, including a Social Security Disability Insurance (SSDI) rider. This rider lowers premiums and adjusts benefits based on SSDI payments received.
  • Graded Disability Option: Suitable for clients with health issues.

2. Illinois Mutual

  • BOE Coverage: Business Overhead Expense (BOE) insurance is available.
  • Government Employees: Coverage is available even with employer-sponsored plans, offering up to $3,000 additional benefits.
  • Stay-at-Home Spouses: Coverage up to $1,000 for 2 years.
  • Specialized Occupations: Ideal for hard-to-insure jobs like chiropractors, clergy, farmers, equine professionals, dental hygienists, ferries, and mechanics.

3. MassMutual

  • Brand Recognition: A well-known and established provider.
  • Age Coverage: Policies available for individuals up to 70 years old.
  • Product Variety: Offers buy/sell and BOE products along with individual plans.
  • Riders: Provides up to 12 additional riders for policy customization.

Disability Insurance Comparison

Feature/ProviderAssurityIllinois MutualMassMutual
Target OccupationsBlue and White Collar, Small Business OwnersSpecialized Occupations, Govt. Employees, Stay-at-Home SpousesBroad Range
Income VerificationUp to $6k without verificationNot specifiedNot specified
Number of RidersOver 7Not specifiedUp to 12
Special FeaturesSSDI rider, Graded DisabilityBOE Coverage, Unique Occupation CoverageCoverage up to age 70, Brand Recognition
Ideal ForDiverse occupations, Small Business OwnersHard-to-insure jobs, Government EmployeesOlder Applicants, Those seeking a known brand

Conclusion

When choosing disability insurance, it’s important to consider occupation, age, and specific needs. Assurity is excellent for a range of occupations, including small business owners, with flexible income verification and a unique SSDI rider. Illinois Mutual stands out for government employees, stay-at-home spouses, and specialized occupations, while MassMutual offers brand reliability and coverage for older individuals. Each provider offers distinct advantages, making it crucial to assess individual needs and preferences.

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Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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