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Introduction to Haven Disability | Haven Life



We'll go out on a limb here and say something crazy: 51 million is a lot. It's a lot no matter what you talk about, but especially when you talk about the number of American workers who do not have a disability insurance policy to protect them from loss of income if they became too ill or injured to work.

And guess what? One in four 20-year-olds will be disabled and potentially face financial difficulties before reaching retirement age, according to the Social Security Administration. And guess what else? Social security benefits are both challenging to obtain (due to onerous eligibility requirements) and probably not enough – they average just $ 2,224 per month, well beyond the poverty line for a family of four.

That's why Haven Life is proud to introduce Haven Disability for Individuals, a simple and reliable new product that aims to offer these workers affordable short-term disability insurance. This is a short-term disability insurance that makes life less difficult ̵

1; you can apply for it completely online, in minutes, from any device and find out if you are approved immediately. So if you are counting yourself or your loved ones among the 51 million, here is what you need to know.

What is disability insurance?

Short-term disability insurance is an insurance designed to cover part of your income in the event that you experience an injury or illness outside the workplace that prevents you from performing your job for a period of time. In general, short-term disability insurance covers 60-70% of your basic salary, starting within a few weeks after your disability has started and lasting between a few months and a year – an important lifeline for support at a time when you need it most

Haven Disability customers can choose between 3, 6 and 12 months of coverage, and approved claims can be paid in as little as seven days after they have met the policy waiting time (choose 14, 30 or 60 days) with a new, patent protection system. And because the individual disability insurance is independent of your employer, it is portable, which means that it goes with you if and when you change jobs. (If you receive disability cover through your employer, this is usually not the case.)

Who needs disability insurance?

We will say this again because the number is so striking: 25% of American 20-year-olds become disabled before reaching retirement age. These disabilities can prevent you from doing your current job or prevent you from finding a new job if you lose your current job due to being disabled. After the year we have had, with a global pandemic that affected everyone thanks to a virus that can spread to anyone at any time, it is clearer than ever how quickly everything can change due to circumstances beyond our control. A short-term disability policy is designed to give peace of mind knowing that you can continue to help your family financially despite illness or injury. Here's why you may need short-term disability insurance:

You are the main breadwinner: Simply put, if your family is dependent on you and your work for necessary income – paying the mortgage, covering groceries, managing education costs – you may want to consider disability insurance. This is because you, as the sole breadwinner, cannot afford to lose your income – it would be devastating for your family. A disability policy can help offset the financial hardship of losing a job due to injury or illness, taking care of your loved ones during one of the most difficult times of your life.

You are self-employed and / or your state or employer does not provide coverage: Other people who may want to consider disability insurance include self-employed and / or persons whose employer and state do not provide short-term disability insurance. Most people who already have it get it through their employer; obviously self-employed people do not have that option. (And even if you think you're covered by your workplace, it never hurts to ask.) Those who live in California, Hawaii, New Jersey, New York, or Rhode Island are automatically covered by the state; the rest of us are not.

You need gap coverage: But even if you are covered, your coverage may not be enough. It can also take time to see a payout, weeks or months that can go by without income to cover your basic expenses. Although there is still a waiting period that must be met before benefits can be paid, a short-term disability insurance policy such as Haven Disability can help ensure that you have the resources to cover future expenses.

Your savings are low, or you do not & # 39; do not want to dip in them: Something else to think about: Your savings. Even if you have enough to cover six months' expenses (as experts recommend), you may not want to dive into these reserves if you do not need to. Disability insurance would help you cover expenses without using your emergency fund. And if you are among the 82% of Americans who say they have not saved that much, disability insurance can provide a financial lifeline in the event of an unexpected injury or illness.

How much does disability insurance cost? [19659005] With Haven Disability, monthly premiums start as low as $ 10 per month, a small price to pay for the peace of mind that comes with knowing you still have income if you can not work. Even better, with real-time insurance, you get an immediate decision on coverage after your application has been submitted. The process of individual policy applications takes only a few minutes, which means you can be covered by the time you have read through this article. If time is money, well, applying for coverage is a great way to save a little of both.

"An unfortunate reality of the pandemic was that many workers who received COVID-19 were uninsured or underinsured, which created a significant financial burden for their families," said John Latona, director of Haven Life. "Haven Disability offers consumers an extra layer of income protection to help them better plan for an unexpected illness or injury that prevents them from working, so they can focus on their recovery instead of worrying about recurring expenses."

Wondering what you can pay for if you stop making a claim? According to our research, 72% of the population pays their monthly loan or rent first, followed by their food and tools. In other words, the basics – the things you and your family need to do.

Here are some examples of what you can expect to pay for Haven Disability, given that prices vary depending on your age, where you live, your gender, your overall health level (including tobacco use) and what you do to support you (because people with more physical jobs are more likely to suffer an injury).

25-year-old woman, sales manager [19659019] Healthy non-smoker, WA

3 month benefit period
(14 day elimination period)
$ 7.25 $ 15.76 28 , $ 53
6 month benefit period
(14 day elimination period]
$ 9.07 $ 21.21 $ 39.42
12 month benefit period
(30 days elimination period)
$ 10.76 $ 26.29 $ 49.58

30-year-old male lawyer

Healthy non-smoker, MA

3 month benefit period
(14 day elimination period)
$ 5.44 $ 10.32 [19659023] $ 17.65
6 month benefit period
(14 day elimination period)
6.69 $ $ 14.08 $ 25.17
12 month benefit period
(30 day elimination period)
$ 7.48 $ 16.44 $ 39.87

35 -year-old woman, graphic designer

Healthy ic ke-smoker, NJ

3 month benefit period
(14 day elimination period)
8.71 $ 20.12 $ 37.23 $
6 month benefit period
( 14 day elimination period)
$ 11.32 $ 27.95 $ 52.89
12 month benefit period
(30 day elimination period)
$ 13.53 $ 34.52 $ 66.15

40-year-old male, chef

Healthy non-smoker, IL

3 months benefit period
(14 days elimination period)
$ 8.02 $ 18.07 $ 33.13
6 month benefit period
(14 day elimination period)
$ 10.58 $ 25.73 $ 48.46 [19659026] 12 month benefit period
(30 day elimination period)
$ 12.26 $ 30.78 $ 58.56

See important information on policy restrictions and exceptions here.

Why Haven Disability?

Apart from the fact that Haven Disability is fast, easy and affordable do you mean? Well, these points are worth repeating, in any case. Again, you can apply online, from any device, in minutes and then get an immediate decision if you are approved for coverage. In the unfortunate event that you are injured or ill, you can rely on Haven Life's rapid injury experience, which can begin to pay benefits on approved damages in as little as seven days after your waiting period. You have options, with terms of 3, 6 and 12 months and coverage from as little as $ 500 to as much as $ 5000 per month. And perhaps most importantly, it's affordable – monthly premiums start at as low as $ 10 a month.

Oh, another thing: Haven Life is fully supported and owned by MassMutual, a life insurance company with more than 170 years of experience in caring for people when they need it most. Think of it as the best of both worlds: Simple, innovative coverage provided by a forward-thinking insurance agency (Haven Life), backed by a company with more than a year and a half of history behind it. All to make you feel safe and secure that you are covered if your income is lost due to injury or illness.

Get a quote now for Haven Disability and take the next step towards strengthening financial protection for you and your loved ones. .


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