If your clients rely on their EARNED INCOME to pay their bills and save for retirement, then they need adequate Disability Income insurance
DISABILITY INCOME 101
DEFINITIONS OF DISABILITY
Partial Disability Triggers (hit 1 of them):
-15% loss of income
-15% loss of time
-1 significant duty
Full Disability Definitions/Triggers
- total disability - regular definition of disability
-"own occupation" cannot perform 1 of major duties last 12 months (some carriers/riders its 6 months)
Policy Details to know:
Elimination Periods - 60,90,180, 365, 720 days available. This is your "time deductible."
Benefit Period: 2 yr,5 yr, 10 yr, 65, 67, 70 years old
Waiver of Premium - no premiums once claim is approved
Non-Cancellable- so long as premiums are paid, the carrier cannot cancel the coverage
Guaranteed Renewable -no premium changes
Automatic Benefit Increase rider - automatically increase monthly benefit first 5 years w/o underwriting
FIO (Future Increase Option) rider - ability to increase monthly benefit (lock in health rating)
COLA rider- increase the monthly benefit while on claim - simple 3% or optional 5% compounding
Extended partial disability benefit rider: extends benefits paid for loss of income beyond 24 months
Own Occ rider - if not in normal definition, this will change definition of disability to true own occupation
Student Loan Rider - pays up to $2,500 a month towards student loans
Insurance Carriers we Offer at BC Brokerage
We only represent A rated or better carriers. Here are the carriers we represent:
Mass Mutual
Ameritas
Guardian
Ohio National
Illinois Mutual
Principal
Mutual of Omaha
Peterson's
Our Process for Disability Income Clients
INDIANA FEE ONLY PLANNERS
You are cordially invited to our upcoming sporting clays event on Friday May 14th 3pm at Indiana Gun Club located in Geist.
14926 E 113th St, Fortville, IN 46040
FIRST TIME SHOOTERS ARE MORE THAN WELCOME! WE WILL HAVE A SHORT LESSON BEFORE AND EXPERIENCED SHOOTERS WITH YOU WHEN YOU ARE HANDLING THE SHOTGUN.
PLEASE RSVP BY EMAILING
BC Brokerage - We Make Insurance Simple
PO BOX 441032
Indianapolis, IN, 46244
www.bc-brokerage.com | 765-730-7146