Beyond the basic “home, life, auto” policies, insurance can be a bit confusing to most people. Because of this, many people question if certain insurance policies are worth purchasing at all.
Disability insurance is a type of personal policy that will cover you in case an injury renders you unable to work.
If you do not have a permanent disability, you are probably already writing this off. However, statistics show that one in four Americans will experience some form of disability before they retire. This means that disability insurance is a much more reasonable expense than many people believe it to be.
Breeze is an up-and-coming online insurance company that wants to change your mind on disability insurance. Much like how many insurance companies want to change how we buy life insurance, Breeze intends to change the process of purchasing disability insurance.
Let’s explore the products and offerings of Breeze disability insurance to determine if it’s the best option for you.
Table of Contents:
- What is Breeze Disability Insurance?
- What Does Breeze Offer?
- Sample Monthly Premiums
- How To Get Started with Breeze
- Pros and Cons
- Alternatives to Breeze Disability Insurance
What is Breeze Disability Insurance?
Breeze is currently the only insurance company to allow you to receive disability coverage 100% online. They have streamlined the process to make receiving disability benefits available to everyone.
Breeze allows you to get long-term disability insurance in about 15 minutes. They can determine if you are a good risk based on a form you fill in online. If you aren’t sure if you are a good candidate for disability insurance, you can find out very quickly.
Policies are available to people between the ages of 18 and 60. They are renewable until you are 67 years old.
All policies are underwritten by Assurity Life Insurance, which is a reputable insurance company. This can give you confidence that your policy won’t fall flat due to a bad insurance company.
What Does Breeze Offer?
One of the major selling points of Breeze is that they offer individual disability policies without a medical examination.
This is highly unusual, and an enormous perk, if you are afraid health issues may interfere with your ability to receive a policy elsewhere.
Breeze only offers a maximum amount of monthly disability benefits without a medical examination.
This is broken down based on the insureds age group:
- 18 to 50-year-olds are allowed a maximum of $4,000 per month.
- 51 to 55-year-olds are allowed a maximum of $2,000 per month.
- 56 to 60-year-olds are allowed a maximum of $1,500 per month.
Breeze also offers a wide range of waiting periods. Their waiting periods run from 30 days to 365 days.
A waiting period for disability insurance is similar to a deductible for health insurance. It’s basically the amount of the overall cost that you are willing to bear before insurance steps in.
The length of a waiting period will also affect your premiums. If you have a short waiting period, you will pay a higher premium. A longer waiting period will result in a lower premium.
Breeze also offers several unique features that are included in every policy:
Breeze will continue to give you monthly benefits if you return to work part-time after a disability.
In cases of severe disability, such as losing a limb or your eyesight, you won’t have to wait to start receiving benefits. They will begin immediately.
If you find that you can no longer move around your home easily because of a disability, this coverage will renovate your home to become more accommodating.
Survivor benefit will pay your beneficiaries a lump sum of six months of coverage if you die due to your injuries or disabilities. You will need to have received at least 12 months of disability benefits prior to your death to redeem this benefit.
After you have been receiving benefits for at least six months, Breeze will pay for you to attend vocational rehabilitation at a local community college. This can help prepare you for an alternative career track.
Organ donor benefit
If you experience a disability after donating an organ or bone marrow, Breeze will provide you with benefits. They only require that you have a policy in place for at least six months.
Breeze Monthly Premiums
Many factors can affect your premium price, so there is no way to say with certainty what you can expect your premium to be.
However, Breeze monthly premiums can range from anywhere between $9 per month to $85 per month. Based on your age, job, income, and activity level, you can generally expect to fall within this range.
A way to get a better idea of what to expect is to look at sample quotes from the site.
Sample Smoker Breeze Disability Insurance Rates
If a 55-year-old male smoker with a heavy labor job would like to receive a monthly benefit of $1,000 with a term of five years, he can expect to pay $75 per month in premiums. This insured represents a larger risk for the insurance company, which is reflected in the premium.
Sample Non-Smoker Breeze Disability Insurance Rates
A 40-year-old non-smoking female with a professional job would pay $58 dollars per month to receive $3,000 in benefits over a 5-year term. Although she has a low-risk job and is relatively young, she is requesting three times as much in disability benefits.
Getting Started with Breeze
Because Breeze’s process is 100% online, it makes it really easy to sign up for a policy.
The first step is to go to their website and begin an application. Their application will ask you several personal, professional, and lifestyle questions to gauge your risk. They will ask you to provide your:
- Employment status
- Activity level at work (Professional, technical, light labor, or labor)
- Net annual income
- ZIP code
- Nicotine use
After you fill in this information, you will be presented with a few policy options based on monthly benefits. The site will assume a benefit period of five years and a waiting period of 90 days. They will state what the monthly cost is for each. You have the option to apply for any of the options if you choose, or you can choose to see more coverage options.
If you have any questions or would like to discuss your options, their team can be reached at 402-522-6658.
Pros and Cons of Breeze
There is no such thing as perfect, and Breeze is no different. Even though there are some major benefits to Breeze, there are also reasons to shop around at other disability insurance companies.
Here are some things to consider before purchasing disability insurance from Breeze.
- Quick underwriting process
- 100% online
- Extensive built-in features
- Lots of optional riders
- Low minimum payments
- No doctors visit required
- No short-term options
- Not available in New York
- No group coverage
- Tends to be more expensive than other carriers
- Offers limited online support
Alternatives to Breeze
The decision to purchase insurance is a big one, and it is best to shop around before you make a decision on a company. If you want to see how Breeze measures up, be sure to check out these companies.
Is Breeze Disability Insurance for You?
If your company offers a disability insurance policy in the form of a group policy, you should definitely sign up. That’s a no brainer. Not every company offers this though, which can put pressure on you to decide if it’s worth it.
If you have a job where you face injury on a regular basis, such as a warehouse job or transportation job, you may want to consider purchasing disability insurance.
Also, if you have people that rely on your income, you should consider a disability policy.
As for Breeze as a disability insurance option, it is best for people who:
- Want coverage fast
- Want options when it comes to coverages
- Want $4,000 per month or less in benefits
- Don’t want to do a medical examination
When it comes to insurance, it is best to shop around before you decide on a policy. Be sure to consult a financial advisor if you are still unsure of whether you need disability insurance.*While we make every effort to keep our site updated, please be aware that "timely" information on this page, such as quote estimates, or pertinent details about companies, may only be accurate as of its last edit day. Huntley Wealth & Insurance Services and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.