Disability insurance may not be something you've thought much about, especially if you can get it through your employer. However, for high income earners, or the self-employed, having a disability insurance policy can be essential.
But, shopping for disability insurance hasn't always been easy - until now. Breeze is a new way to buy disability insurance - all online! They make the process incredibly easy.
In about 15 minutes, you can have a quote. It's that easy. Check out Breeze here or read our Breeze review below.
- Online disability insurance provider
- Easily apply for disability insurance online in about 15 minutes
- Online platform doesn't have a rep to speak to prior to applying
Who Is Breeze?
Breeze is a disability insurance company. They are completely online. After answering a few questions, Breeze provides you with an insurance quote. The name Breeze is meant to be a play on the phrase, “It’s a breeze,” because of how simple Breeze’s application process is.
The underwriter for Breeze policies is Assurity Life Insurance Company. Assurity has been a U.S. life insurance provider since 1890. They have $17.5 billion of life insurance in force. Assurity is rated A− (Excellent) by AM Best, which is an insurance rating company.
What Do They Offer?
Breeze offers long term disability insurance for individuals.
With Breeze, you are buying insurance directly through Breeze and its underwriter, Assurity. The application process is 100% online and underwriting is fully-automated meaning most applicants don’t need a medical exam. Breeze is the first (and to-date, only) company to offer this product in this manner.
In 15 minutes, you can have an insurance quote from Breeze:
- Get a personalized quote with multiple coverage options.
- Submit your online application for the best available plan.
- Let the automated underwriting technology work its magic!
Personal long term disability insurance plans start at $9 per month, and are eligible to those individuals who are 18 to 60 years old. Applicants can select benefit amounts that range from $500 to $20,000. The ability to renew your policy is guaranteed until age 65 or 67.
The also don't require income verification for self employed individuals in most cases.
Some of the free benefits and features of Breeze include:
- Partial disability
- Presumptive disability
- Home modification
- Survivor benefit
- Vocational rehab
- Organ donor benefit
There are also a variety of paid optional riders you can add to enhance your coverage for an additional cost:
- Automatic benefit increase
- Catastrophic disability benefit
- Critical illness benefit
- Guaranteed insurability
- Supplemental DI rider
What Does Disability Insurance Do?
Disability insurance helps replace part of your income if you experience an injury or illness that prevents you from working. Disability insurance pays out each month. The more insurance you want per month, the higher your cost will be. Also, depending on the occupation, the cost can be higher.
A few occupational titles that Breeze covers include:
- Physical therapists
- Software engineers
And that’s just a sample of covered occupational titles. There are many more, so feel free to check with Breeze if you have questions about the industry you work in.
With this in mind, it’s important to understand how your occupation will influence your disability insurance premium rates. The more labor-intensive your job is, the more you can expect your monthly disability insurance payment to cost.
For example, a male that does light labor and wants an $800 benefit will pay $23/month. Not bad, right?
Of course, a higher monthly benefit comes at a higher cost. So if this same male who performs light labor increases his monthly benefit from $800 to $2,270/month, that brings his monthly premium up to $58.
Meanwhile, a male who performs a job classified as labor --- which is more labor intensive than light labor --- will pay $29/month for the same $800/month benefit.
Disability insurance is almost always more expensive for women. For the same light labor and labor configurations from above ($800/month benefit), the monthly cost is $29 and $36 respectively.
Someone who doesn’t do any labor at their job, such as a professional, will pay less monthly. Compare the above male with light labor and a $800/month benefit to a professional seeking $1,100/month as a benefit. The professional’s premium rate is only $17/month. The same female will pay $22/month.
So, why exactly is disability insurance more expensive for women than it is for men? It has to do with how disabilities impact a woman’s career. Female disabilities tend to last longer and occur more often than in men. This can result in an insurance cost of 40% more for females than men. Some of these disabilities include:
- Breast cancer
- Autoimmune disorder
Another major factor that influences the cost of disability insurance is age. A male at a technical job who makes $85,000 and wants a $4,500/month benefit policy that lasts for five years will pay the following per month by age:
- 40-year-old: $82
- 45-year-old: $104
- 50-year-old: $129
- 55-year-old: $167
As you probably imagine, health history and lifestyle habits such as tobacco use also affect disability insurance rates.
In addition to gender, age, health, and lifestyle, there are mainly four factors that have an impact on your insurance rate:
- Benefit amount
- Benefit period
- Elimination period
- Riders selected
Are There Any Fees?
Yes. Just like any insurance, you will pay a monthly premium as long as the policy is in force. Generally, you should expect to spend one to three percent of your annual income on disability insurance.
However, there are no fees to check your disability insurance rate. You can easily get a quote here >>
How Do I Open an Account?
You can open an account by visiting here and clicking any of the yellow “Check My Price” or “Get My Quote” buttons. There are three steps to getting insurance with Breeze:
- Provide info about yourself.
- Customize your policy.
- Apply and get covered.
Is My Money Safe?
At Breeze, your privacy is extremely important. The company uses SHA-2 and 2048 bit encryption (the strongest available) to keep your personal information safe and sound.
Like a traditional insurance company, Breeze requires you to provide your social security number in order to validate your identity and prevent fraud.
Breeze does not run credit checks, so applying will not affect your credit in any way.
Is It Worth It?
It depends on how comparable Breeze is to other well-known disability insurance providers. Having Assurity Life Insurance Company as an underwriter is a plus. And it never hurts to get a quote.
But the Breeze website is lacking in information to make an informed decision, so shopping around is the best way to know if Breeze is a good value.
Breeze Disability Insurance
- Pricing - 90
- Ease of Use - 90
- Products and Services - 80
- Customer Service - 90
Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him on the About Page, or on his personal site RobertFarrington.com.
He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.
He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.