• Peter C. Ciravolo

CARPE #DIAM - MAY IS DISABILITY INCOME AWARENESS MONTH



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


1. Policy Review


2. Gather info and compare policies on the market


3. Apply for Insurance


4. Delivery and Service


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

PETER@BC-BROKERAGE.COM









Connect with us here


BC Brokerage - We Make Insurance Simple

PO BOX 441032

Indianapolis, IN, 46244

www.bc-brokerage.com | 765-730-7146

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