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:
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| 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.” |
Truth:
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