Disability Insurance FAQ

If you have questions about disability insurance, you have come to the right place. Mutual of Omaha Insurance Company (Mutual of Omaha) wants to help you better understand disability insurances policies. Read below to find answers about common questions that arise when talking with our customers. If you have additional questions, do not hesitate to contact a licensed insurance agent in your area and schedule a consultation.

What is disability insurance?

In the event that you are sick or injured and unable to work, disability insurance helps replace your income. It can be used to pay monthly bills, like a mortgage, or for other expenses. Essentially, disability insurance serves as paycheck protection for times when you are unable to earn an income.

Disability insurance functions like many other insurance policies. You pay a set amount at regular intervals, and in exchange, you receive benefits if you use your policy. The specific regulations regarding disability insurance vary by state. Talk to an agent for detailed information regarding disability insurance regulations in your state.

Why do I need disability insurance?

Your income is your most important asset. Your regular paycheck could be the foundation of your lifestyle. Disability insurance protects that foundation. Without a regular income, it may be more difficult to maintain your lifestyle or afford other forms of protection like life insurance.

It can be difficult to imagine life without an income. Our Needs Assessment Calculator helps you determine the amount of money you would need to continue your current standard of living. This simple calculation shows you how much you spend on housing, transportation and other expenses each month, and helps you determine how much disability insurance would be appropriate for your situation.

If I have health problems, can I get disability insurance?

Many people with health issues will still be able to purchase disability insurance. It is important to remember that premiums are, in part, based on age. Since health problems increase with age, typically, premiums typically increase as well. That's why it is important to consider purchasing a disability insurance policy sooner rather than later, to prevent higher premium payments.

Where can I buy disability insurance?

Mutual of Omaha is your trusted partner for disability insurance.

Our financial ratings and more than 100 years of experience in underwriting disability insurance make us an attractive option for your unique paycheck protection needs. Get a Quote today, or speak to a licensed insurance agent, to find out how we can help you find a disability insurance option that fits you.

What type of disability does disability insurance cover?

You can pick between two types of coverage with most policies – accident only, or accident and sickness. Accident only coverage will provide benefits in the event you suffer an injury that keeps you out of work. The accident and sickness option will cover you if you have an injury or an illness that prevents you from working. Long-term disability insurance is only currently available for accident and sickness combination policies in most states.

Can I live off disability insurance income?

It is possible to maintain your lifestyle with disability insurance income. Depending on your income level and your policy, you may be able to nearly match your pre-disability income. The maximum monthly benefit for a Mutual of Omaha disability insurance policy is $12,000 for a personal, long-term policy.

With a well-planned combination of disability insurance, government assistance and investments, it may be possible to meet your pre-disability income and keep your family living the lifestyle they are accustomed to.

How high are disability insurance rates?

Disability insurance rates vary depending on the size of your benefits and the type of riders you attach to your policy. In general, disability insurance can be an affordable investment that offers peace of mind and protection for your family.

Other Disability Insurance Resources

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Exclusions and Limitations-Long-Term Disability Income Insurance
We will not pay benefits for: loss that begins while this policy is not in force; loss resulting from an act of declared or undeclared war; loss sustained while serving in the armed forces (upon notice to us of entry into the armed forces, the unearned portion of the premium will be refunded); loss caused by intentionally self-inflicted injury; loss resulting from commission or attempted commission of a felony; loss caused by suicide or attempted suicide, while sane or insane; loss resulting from your being legally intoxicated or under the influence of an illegal substance or a narcotic (except for narcotics given on the advice of and taken as prescribed by a Physician); loss for which benefits are provided under any state or federal worker's compensation, employer's liability or occupational disease law; loss resulting from Substance Abuse; or loss resulting from Mental or Nervous Disorders.

Exclusions and Limitations-Short-Term Disability Income Insurance
We will not pay benefits for: loss that begins while this policy is not in force; loss resulting from an act of declared or undeclared war; loss sustained while serving in the armed forces (upon notice to us of entry into the armed forces, the unearned portion of the premium will be refunded; loss caused by intentionally self-inflicted injury (while sane in Colorado); loss resulting from commission or attempted commission of a felony; loss caused by suicide or attempted suicide, while sane or insane; loss resulting from your being legally intoxicated or under the influence of an illegal substance or a narcotic (except for narcotics given on the advice of and taken as prescribed by a Physician); loss for which benefits are provided under any state or federal worker's compensation, employer's liability or occupational disease law; loss resulting from Substance Abuse; or loss resulting from Mental or Nervous Disorders.

Exclusions and Limitations-Accident Only Disability Income Insurance
We will not pay benefits for: loss that begins while this policy is not in force; loss resulting from an act of declared or undeclared war; loss sustained while serving in the armed forces (upon notice to us of entry into the armed forces, the unearned portion of the premium will be refunded); loss caused by intentionally self-inflicted injury; loss resulting from commission or attempted commission of a felony; loss caused by suicide or attempted suicide, while sane or insane; loss resulting from your being legally intoxicated or under the influence of an illegal substance or a narcotic (except for narcotics given on the advice of and taken as prescribed by a Physician); loss resulting directly or indirectly from disease or bodily infirmity; or loss for which benefits are provided under any state or federal worker's compensation, employer's liability or occupational disease law.

Exclusions and Limitations-Business Overhead Expense Disability Income Insurance
Benefits are not payable for loss beginning while the policy is not in force; loss resulting from suicide while sane or insane; loss resulting from air travel sustained while a passenger (not as a pilot or member of the crew), for transportation only; loss caused by an act or declared or undeclared war; loss sustained while in a armed service (upon notice to the Company or entry into such service, the pro rata premium will be refunded); normal childbirth, normal pregnancy or voluntary induced abortion. In ID, benefits are payable for complications of pregnancy on the same basis as any other sickness.

We will not be liable for any loss that results from being under the influence of any narcotic unless administered on the advice of a physician.

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