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Ameritas disability insurance review 2020

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Customize your long-term disability plan and lower your premiums with discounts.

  • Consider Ameritas if… You prefer personalized service, and want a choice of long-term disability plans.
  • Look elsewhere if… You want to apply online, or need short-term disability insurance.

18 to 80

Issue Age

$100,000 to $20,000,000

Coverage

Depends on policy

Medical Exam Required

Details

Benefit period2, 5 and 10 years to age 65, 67 and 70
Waiting period30, 60, 90, 180, 365 or 730 days
Policy Riders OfferedYes

Expert review

Katia Iervasi

Review by


Katia Iervasi is a writer from Sydney, Australia. Her writing — and curiosity — has taken her around the world, and she now calls New York home. With a journalistic eye for detail, she navigates insurance and finance for Finder, so you can splash your cash smartly (and be a pro when the subject pops up at dinner parties).

Expert review

If you’re looking for long-term disability insurance, Ameritas is a strong choice. It has a proven financial track record, and offers two tiers of policies to suit different needs and budgets. The company is also known for its attentive customer service, but you can’t apply for a policy online

To find out how Ameritas stacks up to its competitors, compare disability insurance companies.

Ameritas’ disability insurance policies

The carrier has two disability insurance products on offer:

  • Dinamic Fundamental. To qualify for coverage, you must work at least 30 hours a week and can’t have a pre-existing medical condition. It’s a simple policy with a quick underwriting process.
  • Dinamic Foundation. This policy is designed to protect higher income earners. It’s more customizable, with a wider range of policy features and riders to choose from.

Built-in benefits and policy riders available

Benefits

  • Nondisabling injury. If you suffer an injury that doesn’t disable you but requires medical or dental treatment, you’ll be reimbursed for the cost of treatment up to half of your base benefit.
  • Good health. Waive two days of your elimination period for each consecutive year you don’t receive monthly disability benefits.
  • COBRA premium. If you lose your job as a result of a disability, this benefit will pay up to $1,000 per month in COBRA premiums so you can keep your health insurance.
  • Presumptive total disability. Ameritas will waive your elimination period if you lose sight in both eyes, hearing in both ears, your speech, or the use of any two limbs.
  • Surgical transplant. If you’ve had your policy for at least six months and become totally disabled after donating an organ, your elimination period will be waived.
  • Cosmetic surgery. If you’ve had coverage for at least six months and become totally disabled as a result of cosmetic surgery, your disability benefits will be payable after you complete your elimination period.
  • Survivor benefit. If you die during a claim, the insurer will pay your beneficiaries for three additional months.

Riders

  • Enhanced or basic residential disability. Pays a partial benefit if you’re able to return to work on a limited or part-time basis after a disability.
  • Cost of living adjustment (COLA). To offset the effects of inflation, after one full year of disability this rider boosts your monthly benefit. Ameritas offers a 6% compound or 3% simple adjustment.
  • Social insurance substitute. Helps to bridge the gap in income if you don’t qualify for Social Security disability or Workers Compensation, or while you’re waiting for those benefits to kick in.
  • Future increase option. Allows you to increase your coverage to match your new income without going through the underwriting process again.
  • Catastrophic disability. If you can’t perform two of the six activities of daily living (ADLs), the insurer pays an additional monthly benefit.
  • Automatic increase rider. Increases your monthly benefit by 4% each year for five years.
  • Student loan repayment rider. Adds extra coverage so you can continue to pay off your student loans while you’re disabled.

Can I get a discount on my disability insurance premium?

Yes — Ameritas is one of a handful of insurers who offer discounts on disability plans.

You might earn a discount if you:

  • Haven’t touched tobacco in the last year.
  • Pay a double annual premium when your policy is issued.
  • Are a member of an association that endorses Ameritas as a preferred insurance provider.

Ameritas disability insurance reviews and complaints

One of the oldest insurers in the US, Ameritas has been in business for more than 130 years. It’s accredited with the Better Business Bureau, and holds an A+ rating for its customer service and interaction.

There are only three customer complaints on the site, which is low given the size of the company. That being said, the complaints centered on the frustrating claims process.

Ameritas’ financial strength

You can’t predict a disability, so an insurer’s financial strength is important because it points to their ability to pay out claims at any time in the foreseeable future.

Ameritas is a financially strong company. It scores top ratings with AM Best and Standard & Poor’s, and currently manages $32.6 billion in assets.

AgencyRating
AM BestA+ (Superior)
Moody’sNone
Standard & Poor’sA+ (Strong)
FitchNone
J.D. PowerNone

Compare alternatives to Ameritas

Updated April 9th, 2020
Name Product Waiting period Benefit period
Policygenius Disability Insurance
60 - 365 days
2, 5, or 10 years or until age 65 or 67
Get matched with one of 15 top life insurance companies to find the best coverage and rates for you.
Breeze
30 - 365 days
1, 2, 5, or 10 years or until age 65 or 67
This startup offers some of the most riders and benefits backed by an established underwriter.
LeverageRx
30 - 365 days
1, 2, 5, or 10 years or until age 65 or 67
LeverageRx is a digital lending and insurance marketplace exclusively for medical professionals.
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Compare up to 4 providers

How do I sign up for Ameritas’ disability insurance?

Contact an agent:

  1. Go to Ameritas’ website. On the top nav bar, click Find a Financial Professional.
  2. Fill in your personal and contact details, and check the box that says Financial strategies & products for my family. In the comment box, type “disability insurance” so your message gets to the right agent.
  3. Click Submit. You can expect an agent to contact you in one to two business days.

More about Ameritas

Ameritas was founded in 1887 in Lincoln, Nebraska. Over the next century, it grew from a small Midwest insurer to one of the largest insurance companies in the US.

Disability insurance aside, Ameritas sells life, health, accident, dental, vision and hearing insurance, and investment products like annuities, mutual funds and retirement plans.

Frequently asked questions

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