Your Cost May Only Be A Few Dollars A Day... and your whole family might breathe a sigh of relief to know your income will not stop if a disability occurs

STATISTICS:
... 3 IN 10 working Americans will experience a long-term disability during their working years
Source: Social Security Administration Fact Sheet 2007 
... At age 32, the chance of begin disabled for 90 days is greater than the chance of death
Source: National Association of Insurance Commissioners
... 17% (1 in 6) of families experience disability
Source: 2000 Us Census

Disability Insurance provides Income Protection so that if you become sick or hurt and unable to work, you will receive payments to enable you to continue paying living expenses such as rent, mortgage, car payment, food, insurance, utilities, medical expenses and more.

WHO NEEDS DI AND HOW MUCH?

Anyone who depends on their ability to work and earn income needs disability insurance which will provide monthly income.  Ask Marilyn (561-988-0070; marilynfjacobs@gmail.com) to provide a needs analysis for you and will consider any other income sources you have.

TOTALLY DISABLED

Check how policy defines total disability.  It may say that you are totally disabled if you are sick or injured and cannot perform all of the substantial and material duties of your regular occupation.

PARTIALLY DISABLED

Benefit may be half the full disability benefit

COVERAGE

·       Ask your employer what benefits they offer in the event of a disabling illness or injury.  It may include short-term sick leave between a few days and 6 months.

·       Long term benefits may replace  about 60% of salary (not including bonuses or commissions) and may start when short-term benefits are exhausted and continue from5 years to life.  If long-term disability is fully paid for by employers the payments may be subject to income taxes

·       Ask employer:

o     How long is the wait before benefits begin

o     How long will payments continue during a disability

o     How much of your income will be replaced, is there a cap on the amount, and will bonus or commissions be included in the calculation

o     Does your employer take other disability coverage, e.g. government programs, into account when calculating your long-term disability pay

o     Ask for the written information describing your coverage

MILITARY SERVICE COVERAGE

Check to see the coverage if you go into military service.  Some companies will suspend your policy during that period and may not require premiums to be paid, nor will give benefits while you are in the service.  Notify the agent within 60 days of your discharge that you are leaving the service

SMALL BUSINESS OWNER
Email marilynfjacobs@gmail.com about a Business Expense Policy

·       Until what age is the policy guaranteed to be renewable

·       Choose an elimination/waiting period, perhaps 30, 60, or 90 days or one year

·       Choose benefit period, perhaps 12, 18 or 24 months or more

·       How much reimbursement per month will you receive

·       If you are covered by an employer can you convert to an individual policy at the same premium rate and not requiring new medical underwriting

·       Have 24 hour coverage, on or off job

·       Premiums can be deducted as a business expense

·       Find out if benefits are available for partial disability and check out a Retroactive Waiver of Premium, where future premiums are waived and back premiums returned after 90 days of total disability.
Surrender Value Rider may be available that returns premiums you paid less any claims at age 65

·       A Guaranteed Insurability Rider provides additional coverage as income increases, without medical underwriting

·       Retroactive Injury Benefit option would pay you benefits from first day of total disability

·       Special Risk Business Expense Policy addresses diabetes, asthma, paralysis, heart attack and cancer, when they do not qualify for standard business expense protection

SPECIAL RISK INCOME PROTECTION

·       Replaces traditional Disability Income products

·       May cover conditions such as anxiety, asthma, diabetes, epilepsy, heart attack

·       May be guaranteed renewable to age 65 as long as premiums are paid

·       Choose waiting period, benefit period

·       Be covered in your own occupation for two years, 24 hours a day, on or off job

·       Receive tax-free benefits when you pay policy premiums ? these are tax free benefits

·       Waiver of Premium is built-in to start after 90 days of total disability

·       Surrender Value Rider may be available

·       Partial Disability Benefit may be available for a certain period such as 6 months

·       Integrated Monthly Benefit Rider may offer additional total disability benefit

WORKSITE DISABILITY

·       Premiums paid entirely by employee for short-term disability plan.  Employers must have at least 3 eligible employees and a minimum of two must be issued

·       Employer may choose day benefits beings on 1^st, 8^th or 15^th day of accident

·       You choose whether to receive a percent of earned income, e.g. 66.66% or up to a maximum of $600/week or

·       $10,000 Accidental Death and dismemberment benefit included for each employee

·       Waiver of Premium is included while on disability

·       No evidence of insurability required if employee enrolls during eligibility period and is working full-time on effective date of coverage

EMAIL FOR MORE INFORMATION ON A DISABILITY PLAN THAT WILL FIT YOUR POSSIBLE FUTURE NEEDS, and protect your family by providing income.