The DIS “Baker’s Dozen” of Our Most Popular Client HandoutsThe DIS “Baker’s Dozen” of...

The DIS “Baker’s Dozen” of Our Most Popular Client Handouts

1. Five Income Protection Myths . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

2. Shocking Facts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

3. The Top Five Reasons for Income Protection . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

4. Four Compelling Reasons for Paycheck Protection . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

5. Women Need Paycheck Protection Too . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

6. DI for Millennials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

7. DI for Doctors Infographic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

8. Right Age to Buy Infographic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11

9. The Modern Face of Disability Infographic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

10. The Disability Insurance Stat Pack . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

11. The 16 Expenses Covered by BOE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

12. Asset Protection for Every Life Phase . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

13. DI at Work — 3 Great Options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

BONUS! Waiver of Liability Form to Use with any client who declines coverage . . . . . . . . . . . . . . 18

The DIS “Baker’s Dozen” of Our Most Popular Client HandoutsTABLE OF CONTENTS

4444 ZION AVENUE • SAN DIEGO, CA 92120800-898-9641 • www.diservices.com

©2020 Disability Insurance Services, Inc. 10/27/2020 Form 079

Why do Americans forget to insure their paychecks? Because they usually believe one of these disability insurance myths:

MYTH #1: Social Security will cover me if I become disabled.REALITY: Social Security only pays benefits to those with total disability, which is defined very strictly . It does not cover partial or short-term disabilities .

MYTH #2: I have disability insurance through my employer.REALITY: Many people are fortunate to work for a company that cares for its employees – that’s a huge benefit . However, most group disability insurance plans only cover 60 percent of an employee’s income with TAXABLE benefits . After taxes, they receive just 42 percent of their income . If they can sustain their lifestyle on 42 percent of their income, they’re in great shape . If not, they should consider a supplemental policy .

MYTH #3: Disability insurance is too expensive.

REALITY: By looking at the value received compared to the cost, disability insurance is actually less expensive than auto or homeowners insurance . For just a few dollars a day, a person can insure millions in tax-free income . There’s truly no better deal .

MYTH #4: I’m probably uninsurable.REALITY: Very few people are uninsurable . Carriers offer plans for medically-impaired individuals, those who work in high-risk occupations and even for those with high-risk hobbies .

MYTH #5: I’m not going to be disabled. I work in an office!REALITY: Seventy-five percent of disability is caused by illness rather than injury, and statistics show that more than one-quarter of today’s 20-year-olds will become disabled at some point during their working years . Ask the question, can you afford to go without a paycheck for six months or more?

Now that you understand the facts, you surely agree disability insurance is an essential component of every financial portfolio . And with the lackluster economy, consumer interest in income protection is gaining momentum . There’s never been a better time for paycheck protection .

The time is now. Here are three important reasons why:

Rates are lower now than they’ve been in some time .

For the first time ever, underwriting is simplified . In fact, many disability insurance carriers are writing up to $5,000 of coverage each month without the need for medical exams, blood samples and income documentation!

Limits and options are on the rise . To maximize your protection, consider a combination of critical illness and disability insurance .

Abide by the old proverb, “There’s no time like the present.” Don’t delay — Make paycheck protection your priority.

Five DisabilityInsurance Myths

5



Sources:1. Council for Disability Awareness. (2015, May 12). The Disability Disconnect: Do You Know the Odds?2. Social Security Fact Sheet3. Council for Disability Awareness. Disability Insurance: A Benefit for All4. The Motley Fool. (2017, May 1). This is the No. 1 Reason Americans File for Bankruptcy5. Milliman Research Report. (2017, April). A Multi-Year Look at the Cost Burden of Cancer Care6. Office of the Assistant Secretary for Planning and Evaluation, U.S. Department of Health and Human Services. Poverty Guidelines 2018.7. Social Security Administration. National Average Wage Index

SHOCKING INDIVIDUAL DISABILITY INSURANCE (IDI) FACTS REVEALED!


©2018 Disability Insurance Services, Inc.

DI Done Right

MILLIONS GO WITHOUT COVERAGE25% will become disabled for three months or moreAnyone who depends on a paycheck needs disability insurance. According to Council for Disability Awareness, every seven seconds, an American worker will be unable to earn a paycheck for at least one month, due to an illness or disability.1 Yet 67 percent of the private sector have no long-term disability coverage.2

DESPERATE FAMILIES FILE FOR BANKRUPTCY!Filings rise for seriously illThe second most common cause of disability is cancer. Medical debt is the number one reason for bankruptcy filings.4 Even for those with health insurance, expenses often rise for those with serious or chronic illnesses. Out-of-pocket expenses vary and average from $2,500 to more than $5,000 in the first year.5 Two-thirds of cancer-related expenses, like transportation, parking, wigs, food supplements and child care, are non-medical.

EMPLOYERS PAY THE COST FOR FAILING TO OFFER DISABILITY INSURANCE!Employees less likely to return to workOn average, it takes employers 42 days to replace a worker at an average cost of $4,169. Employees without disability insurance are less likely to return to work after suffering an illness or injury. Failing to offer disability insurance costs employers in other ways too. The benefit package is an important consideration for three-quarters of job applicants and almost two-thirds of employees feel stronger loyalty to an employer who offers a comprehensive benefit package.3

SOCIAL SECURITY DISABILITY BENEFITS SHOCKINGLY LOW!Only slightly above poverty level

For those finally approved for Social Security disability benefits, the average monthly benefit is only $1,197 or $14,364 annually. That is barely above $12,140, the federal government Poverty Guideline6 of for a single household and only 30% of the 2016 average wage.7 Relying on the government as a safety net for disability is risky at best and could be a path to the poor house.

THE TRUTH ABOUT GROUP LTDHigh earners are frighteningly under-insured

The typical employer-sponsored LTD benefit is two-thirds of salary and is limited to a $5,000 monthly benefit. That could equate to less than 40% of monthly salary to someone earning $150,000 or more. An IDI benefit can supplement the Group LTD benefit to replace up to 70% of income.

INDIVIDUAL DISABILITY PREMIUMS LOWEST IN YEARS!Buy now, waiting is always costly

IDI can be very affordable, especially when purchased as part of a multi-life program. With a Guaranteed Standard Issue plan, underwriting may be avoided entirely. Multi-life plans are gender neutral, a significant savings for females.



• #5 Reason: Maintain Your Lifestyle

Only 18 .7 percent of people with disability worked in 2017, compared to 65 .7 percent of people without disability .1 At the same time, people with disabilities often incur extra expenses in order to make living arrangements and transportation accessible . Savings accounts don’t last long . And, bills keep piling up . Your income decreases and your expenses increase when you suffer a debilitating illness or injury . When life throws you a curveball, the last thing you want to think about is downsizing or cutting back . However, with a solid income protection policy in place, you will be able to keep your current lifestyle .

• #4 Reason: Ensure Your Future

The first contribution you stop making when you become disabled is to your 401K . If that happens, forget about a comfortable retirement . Without that retirement money, you and your loved ones will continue to struggle for years to make ends meet . You don’t need to sacrifice your retirement dreams . With disability income insurance, paycheck protection is affordable and achievable .

• #3 Reason: Secure Your Children’s Success

If you can’t meet or make your monthly expenses and pay your medical bills, how are you going to save for your children’s future? In the wake of disability, saving for college often falls to the wayside . If there is no safety net in place, your only concern will be financial survival every day, not saving for the future . You can keep your children on the debt-free college-track with a solid disability insurance policy .

• #2 Reason: Safeguard Your Spouse

If you are the breadwinner of your family, you need to protect your paycheck . If you suffer a disability and can no longer work, your partner will likely need to work longer and harder to replace your income and cover medical bills . However, if you have disability income insurance, you can keep the bread on the table and prevent your partner from having to work multiple jobs .

• #1 Reason: Preserve Your Confidence

Getting injured is stressful . Not working is stressful . Mounting piles of bills are stressful . When you are injured, extreme stress can lead to slower recovery times and cause depression . If you are already suffering physical distress, you don’t need the mental anguish the lack of income causes . You can avoid that pain and instill a sense of confidence with a solid income protection policy . With stress out of the picture, you’ll be back to work in no time!

The first contribution

you stop making when

you become disabled

is to your 401K. If that

happens, forget about a

comfortable retirement.

Without that retirement

money, you and your

loved ones will continue

to struggle for years to

make ends meet. You

don’t need to sacrifice

your retirement dreams.

With disability income

insurance, paycheck

protection is affordable

and achievable.

Top Five Reasons for Income Protection

1 Bureau of Labor Statistics



https://www.bls.gov/news.release/pdf/disabl.pdf

Safeguard Your Dreams

• When disability strikes, college and retirement savings are at grave risk .

• First, you have to STOP saving for the future to help shore-up the income gap remaining after you collect employer-provided long-term disability benefits (often as high as 72%) .

• Next, you may have to DRAIN your savings, just to cover the mortgage and car payment .

Are you willing to place your dreams at risk when paycheck protection is an affordable alternative?

Protect the Family Income

• If a family has two breadwinners, both need paycheck protection .

• 58 percent of Americans have less than $1,000 in savings .1

• Employer-provided long-term disability benefits are usually taxable, capped and only cover base pay – often leaving income gaps as high as 72% .

How long could your family survive if one breadwinner had no paycheck?

Uphold Your Credit

• Just over 1 in 4 of today’s 20-year-olds will become disabled before reaching age 67 .2

• In 2016, 26 percent of Americans reported having trouble or being unable to pay medical bills in the previous year .3 Medical debt is recognized as a leading cause of bankruptcy .

• Delinquencies, judgments and foreclosures remain on your credit history for 7 years .

Good credit is one of the most important assets you have. Are you willing to risk yours?

Preserve Your Earning Power

• Building earning power isn’t easy . You invested time and money into your education . You may have had to start at the bottom and work your way up the ladder .

• If you lose a key ability due to disability (such as the ability to keep your hand steady if you are a dentist or surgeon), you may never enjoy the same earning power again .

Why suffer loss of income? A DI policy can protect the earning power you worked hard to build.

Four Compelling Reasons for Paycheck Protection You. Your loved ones. Your present. Your future.

NOW FUTURE

1 GOBankingRates Survey 2 Social Security Administration 3 Kaiser Family Foundation



1 2

3 4

https://www.gobankingrates.com/saving-money/savings-advice/average-american-savings-account-balance/

https://www.ssa.gov/oact/NOTES/ran6/an2018-6.pdf

https://www.kff.org/report-section/the-burden-of-medical-debt-section-1-who-has-medical-bill-problems-and-what-are-the-contributing-factors/

Women need paycheck protection too. Did you know that according to a poll from NBC News and the Wall Street Journal, 49 percent of women report being their family’s primary breadwinner? And if women are unable to work due to an injury or an illness such as cancer, both the household income and the family dynamics are significantly disrupted .

The Facts According to the Council for Disability Awareness

Common causes of disability

• Illnesses like cancer, heart attack or diabetes cause the majority of long-term disabilities . Back pain, injuries, and arthritis are also significant causes .

• Most are not work-related, and therefore not covered by workers’ compensation .

• Musculoskeletal disorders are the #1 cause of disabilities . Examples include; arthritis, back pain and spine/joint disorders .

Financial implications

• 30 percent of Americans say they would not be able to cover living expenses for three months if they lost their income — not even by selling assets or borrowing money . – Federal Reserve Report on the Economic Well-Being of U.S. Households in 2016

• 26 percent of U .S . adults say they or a member of their household had trouble paying medical bills in the last year, and 29 percent of these adults also suffered a job loss or pay cut related to their illness . – Kaiser Family Foundation

• Women are more likely to experience a long-term disability than men . Complications from pregnancy account for 11 percent of new long-term disability claims, and 56 percent of all new private long-term disability claims were filed by women . – CDA 2014 Disability Study

Why place your family at risk? Make sure every breadwinner has paycheck protection.

What are the chances that you could become disabled?

A typical woman, age 35, 5’4”, 125 pounds, non-smoker, who works mostly an office job, and who leads an average lifestyle has the following risks:

• 18% chance of becoming disabled for 3 months or longer during her working career

• 38% chance that the disability would last 5 years or longer, and with the average disability for someone like her lasting 82 months

Source: CDA’s PDQ disability risk calculator http://www .disabilitycanhappen .org/chances_disability/pdq .asp

She brings home the bacon . She’s the heart of the home .

What if she gets cancer?

Ready to get started?Request a quote at

diservices.com



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Women need paycheck protection too. Did you know that according to a poll from NBC News and the Wall Street Journal, 49 percent of women report being their family’s primary breadwinner? And if women are unable to work due to an injury or an illness such as cancer, both the household income and the family dynamics are significantly disrupted .

The Facts According to the Council for Disability Awareness

Common causes of disability

• Illnesses like cancer, heart attack or diabetes cause the majority of long-term disabilities . Back pain, injuries, and arthritis are also significant causes .

• Most are not work-related, and therefore not covered by workers’ compensation .

• Musculoskeletal disorders are the #1 cause of disabilities . Examples include; arthritis, back pain and spine/joint disorders .

Financial implications

• 30 percent of Americans say they would not be able to cover living expenses for three months if they lost their income — not even by selling assets or borrowing money . – Federal Reserve Report on the Economic Well-Being of U.S. Households in 2016

• 26 percent of U .S . adults say they or a member of their household had trouble paying medical bills in the last year, and 29 percent of these adults also suffered a job loss or pay cut related to their illness . – Kaiser Family Foundation

• Women are more likely to experience a long-term disability than men . Complications from pregnancy account for 11 percent of new long-term disability claims, and 56 percent of all new private long-term disability claims were filed by women . – CDA 2014 Disability Study

Why place your family at risk? Make sure every breadwinner has paycheck protection.

She brings home the bacon . She’s the heart of the home .

What if she gets cancer?

What are the chances that you could become disabled?

A typical woman, age 35, 5’4”, 125 pounds, non-smoker, who works mostly an office job, and who leads an average lifestyle has the following risks:

• 18% chance of becoming disabled for 3 months or longer during her working career

• 38% chance that the disability would last 5 years or longer, and with the average disability for someone like her lasting 82 months

Source: CDA’s PDQ disability risk calculator http://www .disabilitycanhappen .org/chances_disability/pdq .asp

Ready to get started?Request a quote at

diservices.com




Why Get Paycheck Protection?

THESE FOUR REASONS

How’s your emergency fund? If it doesn’t

contain enough to tide you through twelve

months without a paycheck, you definitely

need a fallback plan . We know according to

Social Security data that one out of four people

experience disability at some point during

their career — and when it happens, it can put

you out of work for six months to three years .

You need a safety net

Other options are long shots

Mental health is a thing

You have a lot to protectIf you’ve been setting money aside for retirement,

you’re doing something right . An unexpected

disability can grind all that progress to a stop,

or even set you back to the starting line .

Your investment is worth protecting .

That’s all the more true if you’ve already invested

significant time and money into your education to

build your earning power . Maybe you’re still paying

for student loans . If so, protect that investment . Your

ability to earn a living is your greatest asset . It’s the

one thing that makes all other assets possible .

Workers’ comp covers work-related disabilities,

true, but most disabilities are not work-related .

While 5 .6 percent of Americans experience a

short-term disability every year, few of these

are caused by occupational injuries .

As for Social Security, journalist Cameron Huddleston

reported that you need work credits to qualify, you’ll

probably get denied your first time, collecting benefits

can take a long time, and the benefits you collect

might not even make up for the income you lost .

Getting sick or hurt is no fun . Not knowing when

you’ll be able to go back to work is stressful .

Depression and anxiety won’t speed your recovery;

if anything, they’ll set you back . Especially when

others are relying on you, it’s vital to protect your

mental wellbeing; this is where paycheck protection

is worth so much more than the dollars it provides .

1 2

43



https://disabilitycanhappen.org/disability-statistic/

https://www.gobankingrates.com/investing/millennials-need-worry-disability-social-security/

https://www.gobankingrates.com/investing/millennials-need-worry-disability-social-security/

1: AAMC .com (Association of American Medical Colleges) 2017 GQ data

2: Medscape Physician Compensation Report 2017

3: Merritt Hawkins White Paper Series; Physician Supply Considerations: The Emerging Shortage of Medical Specialists

4: Social Security Administration: Benefits Planner: Disability

5: Council for Disability Awareness, Long-Term Disability Claims Review, 2011

Income Protection for Doctors Why A Second Opinion Is Essential

PUBLIC: $243,902

PRIVATE: $322,767

You’ve invested a great amount to get where you are.The median 4-year cost of attendance for the class of 20171

You may have a huge amount of debt to pay back.In 2016, 76% of medical school graduates carried a median medical school debt of $190,000.1

You have a lot of earning power on the line.In 2017, doctors earned between $202,000 and $489,000 annually –more than most other professions.2

You’ll probably be working a lot of extra hours.The U.S. faces an estimated shortage of 104,900 doctors by 2030.3

Just 1 in 4 of today’s 20 year olds will become disabled before they retire.4

Approximately 90% of disabilities are caused by illnesses rather than accidents.5

Disability occurs frequently. You see it �rsthand.

Many doctors are underinsured when it comes to income protection. • Limits should be adjusted for incomes that increase over time. • Private practices should be protected by business overhead expense insurance, key person insurance or other smart tools. • Sta� members could bene�t from voluntary or multi-life income protection products. • Coverage may be lacking correct features to maximize your protection. • You may be overpaying. Prices may have gone down or lower rates may be available through a multi-life option.


©2018 Disability Insurance Services, Inc.

DI Done Right 4444 ZION AVENUE • SAN DIEGO, CA 92120800-898-9641 • www.diservices.com


1: AAMC .com (Association of American Medical Colleges) 2017 GQ data

2: Medscape Physician Compensation Report 2017

3: Merritt Hawkins White Paper Series; Physician Supply Considerations: The Emerging Shortage of Medical Specialists

4: Social Security Administration: Benefits Planner: Disability

5: Council for Disability Awareness, Long-Term Disability Claims Review, 2011

https://students-residents.aamc.org/choosing-medical-career/article/you-can-afford-medical-school/

https://login.medscape.com/login/sso/getlogin?urlCache=aHR0cHM6Ly93d3cubWVkc2NhcGUuY29tL3NsaWRlc2hvdy9jb21wZW5zYXRpb24tMjAxNy1vdmVydmlldy02MDA4NTQ3&ac=401

https://www.merritthawkins.com/uploadedFiles/mhawhitepaperspecialties2017.pdf

https://www.ssa.gov/benefits/disability/

THREE MAJOR CONSIDERATIONS

Source: NAIC Commissioner’s Disability Table A, currently used to price IDI products

Source: https://smartasset.com/retirement/ the-average-salary-by-age

Earning potential Risk factors Impact of lost income

STEP 1: Estimating earnings In 2016, the average salary of a recent college graduate was $50,556 . Using an average annual increase of 3%, a 25-year-old earning $50,556 today would earn the

following salaries throughout his/her lifetime:

STEP 2: Assessing risk of disability The likelihood of a disability lasting more than 90 days hovers

around 50% for 25-year-olds to 35-year-olds . And although the probability of suffering a 90+ day disability decreases

as we age, the number of months disabled increases .

STEP 3: Assessing the financial riskOn average, a 30-something, with a 50/50 chance of becoming disabled for more than 90 days, stands to

lose more than a quarter of a million dollars while disabled; a 45-year-old more than half of a million dollars . And, there are other financial impacts not factored into this equation, like the impact to retirement assets .

Age

30

35

40

45

50

Salary estimate

$58,608

$67,943

$78,764

$ 91,309

$ 105,853

Likelihood of disability lasting > 90 days

51%

48%

44%

40%

34%

# of months disabled

55

61

64

68

74

Lost wages

$268,621

$345,377

$446,332

$563,076

$652,760

Age

30

35

40

45

50

Salary estimate

$58,608

$67,943

$78,764

$ 91,309

$ 105,853

Likelihood of disability lasting > 90 days

51%

48%

44%

40%

34%

# of months disabled

55

61

64

68

74

Age

30

35

40

45

50

Salary

$58,608

$67,943

$78,764

$ 91,309

$ 105,853

What is the Right Age to Buy Individual Disability Insurance?

Final consideration: the affordability of paycheck protection

The bottom line: At any age, disability insurance is a wise choice .

When you compare the potential economic impacts to the price of a disability insurance policy, it’s easy to see that purchasing disability insurance is a smart financial decision .



https://smartasset.com/retirement/the-average-salary-by-age

https://smartasset.com/retirement/the-average-salary-by-age

The Face of DisabilityCould this be you or someone you know?

How many disabled Americans are there?

How are they disabled?

What is the most frequent cause of disability?

Disability Prevalence by State

What is the education level of adults with disabilities?

1 in 4 adults (61 million people) have a disability

of women 18 or older are disabled 1

of men age 18 or older are disabled

22.3%did not complete

high school

63.7%graduated high school

14.0%graduated college

Loss ofmobility

12.9%

Loss ofcognition

11.4%

Loss of ability to live

independently 2

7.0%

Loss of hearing

5.6%

Loss ofvision

4.7%

Loss of ability to care for self

3.8%

Arthritis is a leading cause of disability among adults.

Other common causes of disability include: Asthma, Cancer, Heart Disease, Diabetes and Muskuloskeletal Disorders. 3 TX

SD

OR

NVNE

MO

IA

UT

WA

KS

ID

AK

WYWI

OK

ND

NM

MT

MS

MN

LA

IL

HI

COCA

ARAZ

PRGU

RI

DE

DC

OH

NYNH

MI MA

ME

KY

SC

NC

NJ

MD

FL

AL

WVVA

TN

PA

IN

GA

Age-adjusted

Prevalence (%)

US = 25.6

20.2 24.9

25.1 29.7

29.8 34.5

34.6 39.2

Data suppressed

Equal Interval

27.0% 24.1%



Ready to get started? Request a quote at diservices.com

Source: https://dhds.cdc.gov 2017 datasources: https://www.cdc.gov/ncbddd/disabilityandhealth/infographic-disability-impacts-all.html

https://dhds.cdc.gov 2017 data

Source: https://dhds.cdc.gov 2017 data

Source: https://www.cdc.gov/ncbddd/disabilityandhealth/relatedconditions.html Source: Behavioral Risk Factor Surveillance System (BRFSS)


http://dhds.cdc.gov

https://www.cdc.gov/ncbddd/disabilityandhealth/infographic-disability-impacts-all.html

http://dhds.cdc.gov

http://dhds.cdc.gov

https://www.cdc.gov/ncbddd/disabilityandhealth/relatedconditions.html

https://dhds.cdc.gov/LP?CategoryId=DISEST&IndicatorId=STATTYPE&ShowFootnotes=true&View=Map&yearId=YR2&stratCatId1=CAT1&stratId1=BO1&stratCatId2=&stratId2=&responseId=Q6DIS1&dataValueTypeId=AGEADJPREV&MapClassifierId=equal-interval&MapClassifierCount=4

Ready to get started? Request a quote at diservices.com



Just over 1 in 4 of today’s 20 year olds will become disabled before they retire.1

In December of 2016, there were over 2.5 million disabled workers in their 20s, 30s, and 40s receiving SSDI bene�ts.2

1 Social Security Administration, Fact Sheet 20192 Social Security Administration, Disabled Worker Bene�ciary Statistics, ssa.gov3 disabilitycanhappen.org4 Bankrate’s Financial Security Poll, May 20195 American Journal of Public Health, March 20196 Statistics, ssa.gov

The average long-term disability claim duration is

34.6 months.3

YEAR 1 YEAR 2 YEA

82% of Americans don’t have enough savings to cover their bills for six months.4

82%

Approximately 90% of disabilities are caused by illnesses rather than accidents.3

Medical problems

contributed to 66.5% of bankruptcies �led in the U.S. according to a 2019 study.5

66.5% One in threeAmericans between ages 35 and 65 will

become disabled for more than 90 days.6

Disability Stat PackThe top reasons every working American needs paycheck protection


Accounting and Legal Fees

Billing and Collection Fees

Professional and Association Dues

Continuing Education

Depreciation

Interest on Business Debts

Office Supplies, Postage and Subscriptions

Other Fixed Business and Equipment Expenses

Rent or Lease Payments

Business Property Taxes

Malpractice, Property, Liability and Other Business Insurance Premiums

Employee Wages and Benefits

Utility Bills

Loan or Lease Payments for Furniture and Equipment

Laundry and Janitorial Services

Security and Maintenance Services

The 16 Expenses Covered by BOEA Business Overhead Expense (BOE) policy is a must-have for professional firms and businesses that rely on a few revenue producers . It covers the ongoing operating expenses of an insured’s business if they become unable to work due to an injury or illness, and protects against the use of personal assets to pay for business expenses . A BOE policy is typically short-term, from 12 to 24 months, paying a monthly benefit to keep the business running until the insured recovers .

BOE insurance covers a wide range of business overhead expenses, including:

16

15

14

13

12

11

10

91

8

7

6

5

4

3

2



In some cases, BOE policies also cover the salary on any temps hired to do the job of the disabled person . Income taxes or the cost of inventory are a few expenses that are typically not covered .

In the event of an unexpected injury or illness, a BOE policy can be the difference between sustaining an operating business and sliding into bankruptcy .

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Asset Protectionfor Every Phase

of Your Life

Wondering which types of insurance you really need? Below are three key coverages that help shelter your financial assets throughout your life .

20 30 40 50 60 70

Critical Illness Buy any time - up to carrier’s maximum age

Disability Insurance Buy during the working years

Long Term Care Buy in your 50s if possible

What you need When you should buy

Young Adult (20s and anytime after )

Critical Illness Insurance pays a lump sum if you are diagnosed with a critical condition such as cancer . If your medical insurance has high deductibles or other out-of-pocket components, critical illness insurance can fill the gap .

You can purchase critical illness coverage anytime, but it’s much easier to get if you’re healthy .

Working Years (30s, 40s, 50s)

Disability Insurance (also known as paycheck protection) gives you a source of income if you are unable to work due to a disabling illness or injury . Your paycheck is your most important asset so paycheck protection is crucial .

If you earn $60K or more, you should secure an individual disability insurance policy as soon as possible . If you have employer-sponsored coverage, a supplementary plan is recommended as employer-sponsored benefits are taxable and often insufficient .

Retirement Years(50s, 60s, 70s)

Long-Term Care Insurance pays for your long-term care needs so you don’t have to exhaust your retirement savings to do so .

Buy long-term care insurance when you are in your 50s . This is important, because you need to be healthy to secure coverage . Many people wait too long . Premiums are much more affordable when you buy young .




©2020 Disability Insurance Services, Inc. 10/27/2020

Your employees need income protection.

• Two-thirds of employees do not have disability insurance .1

• 90% of disabilities are due to illness not injury .2

• More than 80 % of employees do not have an emergency fund sufficient to cover expenses for 3 to 5 months .3

Employers can provide income protection in three ways:

1. VOLUNTARY DI

Advantages:

• Employee pays premium . There is no expense to the employer .

• Guaranteed or simplified issue makes underwriting easy .

• Coverage is usually portable and can follow employees to future jobs .

• Benefits received are typically NOT taxed if the employee pays the premium .

2. MULTI-LIFE DI

Advantages:

• Available for groups of 3 or more .

• Everyone saves money with deep multi-life discounts and unisex rates .

• Reward top talent .


• Voluntary or company paid .

3. EXECUTIVE PLAN DI

Advantages:

• Retain top executives with added perks .

• Solve “reverse discrimination” in your long-term disability insurance plan .

• Provide meaningful protection for those who are highly compensated .


What’s in it for employers? More than you might expect!

• Increase the scope of your benefit package without increasing your expenses .

• Improve your ability to attract and retain talent and key executives .

• Provide additional value to high income earners .

• Take advantage of easy and simple billing options .

• Enjoy first-rate customer service for you and your employees .

• In the event of a disability, the insurer will work with you and the employee to facilitate prompt return to work .

Sources:1 Council for Disability Awareness2 Council for Disability Awareness 2011 Advisor Disability Awareness Study3 CreditDonkey .com

Disability Insurance at Work:

Three Great Options

http://CreditDonkey.com


©2020 Disability Insurance Services, Inc. 10/27/2020

Waiver of LiabilityI, _______________________________________________________, acknowledge

that __________________________________________(hereinafter, “the agent”), has

educated me about the financial risks of illness or injury .

Together, we have carefully analyzed my current financial and insurance situation . In the

unfortunate event of illness or injury, additional income protection would be necessary

to protect my assets .

I understand that the odds of becoming disabled are significant and that if I become

disabled, my family and I will suffer a substantial loss of income, which may place my

assets at risk .

The agent has recommended an income protection plan . However, I am electing to take

no action at this time . I am fully aware of the consequences of this decision and I hereby

agree to hold the agent blameless for any loss subsequently suffered .

Date: ______________Client Name:____________________________________________

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