Finance Blog

Stay financially savvy with the Equifax Advisor.

Sign up for our FREE Monthly Email Newsletter


Thank you for signing up for the FREE Equifax monthly newsletter

In addition to keeping in the financial know, you may be interested in checking your credit score and report.

Understand your credit. Help protect your identity.

Equifax Complete™ Premier Plan

  • Know What May Influence Your Credit Score and Be Alerted of Changes
    Credit score monitoring with custom alerts
    Important Disclosure: The Equifax credit score and 3-Bureau credit scores are based on an Equifax credit score model and are not the same scores used by 3rd parties to assess your creditworthiness.¹
  • Help Protect Your Identity
    Automatic fraud alerts encourages lenders to take extra steps to verify your identity²
  • Lock Your Credit
    The ability to lock and unlock your Equifax Credit Report³
Save 75% your first 30 days with the purchase of Equifax Complete™ Premier

$4.95 for the first 30 days, then $19.95 per month thereafter. You may cancel at any time; however, we do not provide partial month refunds.4

¹The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.

²The Automatic Fraud Alert feature is made available to consumers by Equifax Information Services LLC and fulfilled on its behalf by Equifax Consumer Services LLC.

³Equifax Credit Report Control™ is only available while you have a current subscription to Equifax Complete Premier. Locking your credit file with Equifax Credit Report Control will prevent access to your Equifax credit file by certain third parties, such as credit grantors or other companies and agencies. Credit Report Control will not prevent access to your credit file at any other credit reporting agency, and will not prevent access to your Equifax credit file by companies like Equifax Personal Solutions which provide you with access to your credit report or credit score or monitor your credit file; Federal, state and local government agencies; companies reviewing your application for employment; companies that have a current account or relationship with you, and collection agencies acting on behalf of those whom you owe; for fraud detection and prevention purposes; and companies that wish to make pre-approved offers of credit or insurance to you. To opt out of such pre-approved offers, visit www.optoutprescreen.com/.

4We will require you to provide your payment information when you sign up and we will immediately charge your card $4.95. After that, we will charge the card $19.95 for each month you continue your subscription. You may cancel at any time; however, we do not provide partial month refunds.

Equifax® is a registered trademark and Equifax Complete™ Premier is a trademark of Equifax, Inc. © 2014, Equifax Inc., Atlanta, Georgia. All rights reserved.

FAQs about Disability Insurance

Written by Linda Rey on July 1, 2010 in Insurance  |   1 comment

When you think about your insurance needs, you probably think about protecting your valuable assets, like your home and cars. But what about your ability to earn? That’s an asset, too. What would happen if you lost the ability to earn a living? Most of…

Disability Insurance FAQs
When you think about your insurance needs, you probably think about protecting your valuable assets, like your home and cars.

But what about your ability to earn? That’s an asset, too. What would happen if you lost the ability to earn a living?

Most of us aren’t in a financial position to be able to provide for ourselves and our loved ones if we could never work again. That’s where disability insurance comes in.

FAQ: Who Needs Disability Insurance?

Disability insurance is one of those policies that too many people overlook. I think more people pass over disability insurance than life insurance, but really, there’s a higher chance of being disabled on the job than dying.

If any of the following apply to you, you might need disability insurance:

  • You have a job.
  • You pay bills from the income you earn.
  • You don’t have enough savings or retirement to cover those bills if you lose your job.
  • You own a business with overhead expenses.

FAQ: What Is the Chance of Disability, How Long Does It Last, and What Does It Cost?

Almost 3 in 10 of today’s twenty-year-olds will become disabled before reaching age 67.

The average long-term disability absence is 2.5 years.

The average monthly Social Security Disability Insurance (SSDI) benefit is $1,064.

FAQ: What Do I Need to Know about Disability Insurance?

The jargon surrounding disability insurance can be confusing. Here’s a basic glossary to help you decipher your policy:

Benefit Amount: A disability insurance policy typically pays up to 80 percent of your monthly earnings prior to the start of the disability. The total amount of your benefit is limited to this amount, no matter how many disability insurance policies you carry.

Benefit Period: The benefit amount is paid for a specified period of time, such as five years, ten years, or until the beneficiary reaches a specific age, up to 65, which insurance companies reason is still the typical age for retirement.

Disability: Some policies define disability as inability to perform the duties of the occupation you are trained and qualified for. But other disability insurance policies say that if your skills translate to another position within your area of expertise, you are not disabled. For example, a surgeon may no longer be able to perform surgery, but he can teach at a university. One disability insurance policy may say the surgeon is disabled, while another disability policy says he isn’t. Other policies will pay only if you can’t work in any occupation, even if it’s not within your field of expertise.

Elimination/Waiting Period: This works like a deductible on auto insurance, except it’s in days, not dollars. Before long-term disability insurance benefits kick in, you have to wait a certain period of time, such as 30, 60, 90, 180, or 365 days. Sometimes, companies will also carry short-term disability policies that will reimburse you for lost wages before the long-term disability kicks in.

Inflation Protection: This addition to the policy allows benefits to increase every year based on an inflation index, usually the Cost-of-Living Adjustment (COLA). This could be an important provision to have as part of your policy, depending on the time between when the policy is purchased and when the claim is filed for benefits to be paid and for how long.

Partial Disability: If you are at least 20 percent disabled, the policy will pay the proportionate amount.

Portability: If you have access to a group policy, check to see if you are able to take it with you if you leave your job.

FAQ: How Do I Buy Disability Insurance?

If you are an employee for a large company, it probably has a plan with a short-term and/or long-term disability option. Typically, there is no underwriting, so you won’t have to answer questions about your health and age.

If you are self-employed, or if you work for a company but want to buy an individual policy, you have several options for disability insurance coverage. If you belong to a professional organization, it may have policies for members. You might also want to hire a trusted insurance professional or adviser who writes disability insurance for individuals.

If you are a business owner, you might want to explore several types of business insurance, including long-term and short-term disability, business overhead expense coverage (to protect your business from a forced liquidation), and workers’ compensation (a state-mandated coverage that provides for about two-thirds of an employee’s pre-disability income in the event of an accident on the job).

Work with your insurance agent to determine what policy type and size makes sense for your circumstances. Consider how much income you earn and whether you have outside financial resources that can help cover your expenses in case you are disabled.

National Disability Employment Awareness Month isn’t until October, but it’s never too soon to protect yourself as your greatest asset.

Linda Rey is a licensed insurance agent at Rey Insurance with a broad spectrum of expertise in life, accident, health, property and casualty insurance as well as retirement planning and college funding strategies.
Follow Linda on Twitter.

Read More.

Flood Insurance: What to do Before, During and After a Flood

The information contained in this blog post is designed to generally educate and inform visitors to the Equifax Finance Blog. The blog posts do not give, and should not be assumed to provide, personalized tax, investment, real estate, legal, retirement, credit, personal financial, or other professional advice. Before making any financial decision, you should always consult with the appropriate professionals who can explain your options, rights, and legal responsibilities, and advise you on any tax, legal, credit, or business implications that may result from those decisions. The views and opinions expressed by the authors of blog posts are their own views and may not be the views or opinions of Equifax, Inc. and/or its affiliates.

1 comment

  1. Ruby Clifton says:

    Insurance in itself is securing the future in the worst circumstances. For an able bodied person, getting disabled is the worst he can dream of. Only the Disability Insurance can ensure that he gets his bread and butter for the rest of his life.

    You now have the advantage of getting the best possible Insurance Advice. There are so many websites on the Internet to which you can turn to in case you need any help in this regard.

Leave a Comment

Name :

Commenting guidelines

We welcome your interest and participation on this forum, but be aware that comments will be published at Equifax's sole discretion. Please don't use this blog to submit questions or concerns about your Equifax credit report or raise customer service issues. Instead, you should contact Equifax directly for all such matters and any attempts to do so in this forum will be promptly re-directed.

Some other factors to consider when commenting:
  1. Registration and privacy. While no registration is required to visit our forum, participants wishing to post a message must register by creating an account. All personal information provided by forum members incident to registration is governed by our Terms of Use and Privacy Policy.
  2. All comments are anonymous. We'll delete your name, e-mail address, and any other identifying information, including details about your investments.
  3. We can't post or respond to every comment - As much as we'd like to, we can't post every comment, nor can we guarantee that we will respond to each individual message. All questions or comments about your Equifax credit report or similar customer service issues should be handled by contacting Equifax directly.
  4. Don't offer specific legal, tax or financial advice. All of the materials on this Site are for information, education, and noncommercial purposes only and this forum is not intended as a means of expressing views or ideas regarding any specific legal, tax, or investment advice. While offering general rules of thumb is both permitted and encouraged, recommending specific ideas or strategies regarding investments, taxes, and related matters is prohibited.
  5. Credit Repair. This blog is not intended as a venue for the discussion or exchange of ideas regarding credit repair or other strategies intended to assist visitors and community members improve or otherwise modify their credit histories, ratings or scores.
  6. Stay on topic. Your comment should be concise and pertain to the specific post in question.
  7. Be respectful of the community. The use of profanity, offensive language, spam, and personal attacks will not be tolerated and egregious or repeat offenders will be banned from future participation. We encourage disagreement and healthy debate, but please refrain from personal attacks on our WordPresss and contributors.
  8. Finally: Participation in this forum may be terminated by Equifax immediately and without notice for failure to comply with any guidelines or Terms of Use. As such, you should familiarize yourself with all pertinent requirements prior to submitting any response through the blog or otherwise. All opinions expressed in this forum are solely those of the individual submitting the comment, and don't necessarily represent the views of Equifax or its management.

Equifax maintains this interactive forum for education and information purposes in order to allow individuals to share their relevant knowledge and opinions with other members and visitors. We encourage you to participate in discussions about personal finance issues and other topics of interest to this community, but please read our commenting guidelines first. Equifax reserves the right to monitor postings to the forum and comments will be published at our discretion. Do you have questions or comments about your Equifax credit report or customer-service issues regarding an Equifax product? If so, please contact Equifax directly. All opinions and information expressed or shared in blog comments are solely those of the person submitting the comments, and don't necessarily represent the views of Equifax or its management.

Insurance Archive