Ameritas is a highly rated insurer offering attractive rates on long-term disability insurance. While their customer service operations may be slightly slower than some, the wait is worth it for top-quality products.
Published August 5, 2019
|A.M. Best rating||A|
|Company info||“Union Central/Ameritas associates are committed to striving for personal excellence. We recognize that our diversity as individuals enables growth and strength as a team. We believe that we can make a difference by portraying a positive attitude and approaching our business activities with a focus on these Union Central/Ameritas values.”|
|Evaluation||4.5/5 - Ameritas is an old institution but a newer entrant to disability insurance, offering a comparably strong contract for lower rates. Their operations are a bit slow, but the product is worth the wait.|
|Customer service||3/5 - Typically slower-than-average turnaround.|
|Product name||DInamic Foundation|
|Elimination period||30 days, 60 days, 90 days, 180 days, 365 days, 730 days, subject to benefit period|
|Benefit period||2 year, 5 year, 10 year, Age 65, Age 67, Age 70|
|Definition of disability||Own Occupation, Not working; True Own Occupation available as add on|
|Guarantee||Guaranteed Renewable; Non-Cancelable via add on|
|Partial/residual disability||Built-in or added via rider|
|Non-disabling Injury||Reimburses some medical or dental expenses for injuries that are not disabling.|
|Good Health Benefit||Reduces the elimination period by two days every year you own the policy and don't file a claim.|
|Presumptive Total Disability||Presumes total disability if you lose sight, hearing, speech, hands, or feet. No elimination period and full benefit paid regardless of employment.|
|COBRA Premium Benefits||If you become unemployed due to disability, company will reimburse you for COBRA medical premiums.|
|Automatic Increase||Automatic 4% increase in benefit for the first five years you own the policy with no underwriting.|
|Waiver of Premium||No more premium payments are required once claim is approved.|
|Surgical Transplant||Elective transplant surgery qualifies as a sickness after six months of policy ownership.|
|Cosmetic Disability||If you become disabled as a result of elective cosmetic surgery, benefit is paid.|
|Survivor Benefit||If you die while on claim, three additional months will be paid to your beneficiary(ies).|
|Cost of Living Adjustment||Increases the monthly benefit while on claim, based on Consumer Price Index (3% max).|
|Future Increase Option||Lets you increase the coverage on an annual basis, up to age 55, with no medical underwriting.|
|Catastrophic Disability Benefit||An additional monthly benefit is paid if you cannot perform two or more Activities of Daily Living.|
|Enhanced Residual Disability/Basic Residual Disability||Pays a benefit if you are still working in your job, but lose income due to injury or illness.|
|Social Insurance Substitute||Part of the monthly benefit could be reduced if you qualify for social security disability.|
*Subject to availability based on individual applicant’s personal profile.
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