People often have misperceptions about the need for disability insurance and the process for filing a claim.
|Myth: “I don’t need disability insurance because I’m very careful. In fact, I’ve never been injured before – why would I in the future?”|
|Truth: Over 90% of disabilities are caused by illnesses (such as cancer and heart disease) – not accidents.
JHA Disability Fact Book, 2008 Edition
|Myth: “Most disabilities are just for a short amount of time. Anyway, if I do get hurt or sick, I could live on my savings.”|
|Truth: In 2009, 51% of disability insurance claims lasted more than five years. Plus, just one year of disability could easily eliminate years of savings (even if a client has saved 10% a year).|
|Myth: “I’d probably have an illness or injury that would never qualify for benefits.”|
|Truth: You may be surprised by the types of illnesses and injuries insurance companies pay claims for, including:
|Myth: “The process for applying for benefits is complicated.”|
|Truth: Principal Life strives to make the claim process quick and easy. Our customer satisfaction scores* speak to our commitment to service:
* Source: Principal Life 2010 Customer Satisfaction Survey.
|Myth: “Filing a claim takes too long.”|
|Truth: Within 48 hours of receiving a claim notification, Principal Life mails the claimant:
Typically within five to seven business days receiving all requirements, Principal Life makes and communicates a claim decision.
|Myth: “Social Security or Workers’ Compensation will take care of me.”|