Disability is one of those topics people don't want to talk — or even think — about. However, millions of Americans are unprepared for the financial devastation that could result from a disability.
Alarming numbers
Most people think the odds of becoming disabled are low. However, statistics* indicate otherwise: Over 36 million Americans are classified as disabled (about 12% of the total population). And just over one in four of today's 20-year-olds will become disabled before they retire.
Here's another alarming fact: The average length of a long-term disability absence is just shy of three years (32.1 months). Without an income source, there aren't many people who could cover their expenses for that long. Disability income insurance provides an important safety net in case a disability strikes. You can help your employees secure this valuable insurance protection by offering disability income insurance as a voluntary benefit that employees can choose and pay for themselves through payroll deduction.
Filling a need
Cost is one reason your employees may not purchase disability income insurance on their own. You can provide group disability income insurance and/or offer individual policies so your employees can purchase the coverage they need (conveniently by payroll deduction) potentially for less than they would otherwise pay.
Lack of knowledge is another reason employees may shy away from disability income insurance. You can help overcome the information barrier by providing education about disability income insurance — and all your benefits. The more your employees know about the benefits you provide, the more they'll participate and the more likely they are to stay with your company.
Benefits for all
Voluntary benefits are a cost-effective way of providing employees with an expanded menu of benefits. In today's competitive market, you need a solid benefits package to attract and retain valued employees.
Voluntary disability income insurance coverage is flexible and can be designed to fit with your existing employee benefits package. There are different levels of income replacement and different benefit and elimination periods. Your financial professional will work with you to come up with the right plan for you and your employees.
* Council for Disability Awareness, December 2011
FINRA Reference #FR2012-1030-0141/E 02/04/13
Alarming numbers
Most people think the odds of becoming disabled are low. However, statistics* indicate otherwise: Over 36 million Americans are classified as disabled (about 12% of the total population). And just over one in four of today's 20-year-olds will become disabled before they retire.
Here's another alarming fact: The average length of a long-term disability absence is just shy of three years (32.1 months). Without an income source, there aren't many people who could cover their expenses for that long. Disability income insurance provides an important safety net in case a disability strikes. You can help your employees secure this valuable insurance protection by offering disability income insurance as a voluntary benefit that employees can choose and pay for themselves through payroll deduction.
Filling a need
Cost is one reason your employees may not purchase disability income insurance on their own. You can provide group disability income insurance and/or offer individual policies so your employees can purchase the coverage they need (conveniently by payroll deduction) potentially for less than they would otherwise pay.
Lack of knowledge is another reason employees may shy away from disability income insurance. You can help overcome the information barrier by providing education about disability income insurance — and all your benefits. The more your employees know about the benefits you provide, the more they'll participate and the more likely they are to stay with your company.
Benefits for all
Voluntary benefits are a cost-effective way of providing employees with an expanded menu of benefits. In today's competitive market, you need a solid benefits package to attract and retain valued employees.
Voluntary disability income insurance coverage is flexible and can be designed to fit with your existing employee benefits package. There are different levels of income replacement and different benefit and elimination periods. Your financial professional will work with you to come up with the right plan for you and your employees.
* Council for Disability Awareness, December 2011
FINRA Reference #FR2012-1030-0141/E 02/04/13
Northbeam Financial, Inc. and LTM Publishing, Inc. are unrelated.
This is an advertisement prepared by LTM Publishing, Inc. for the use of the sender. Articles are not written or produced by the named representative. The advertisement provided is not intended as legal or tax advice and may not be relied on for purposes of avoiding federal tax penalties. All individuals, including those involved in the estate planning process, are advised to meet with their tax and legal professionals. The individual sponsoring this newsletter will work with your tax and legal advisors to help select appropriate product solutions. We do not endorse or guarantee the content or services of any website mentioned in this newsletter. We encourage you to review the privacy policy of each website you visit. Limitations, restrictions and other rules and regulations apply to many of the financial and insurance products and concepts presented in this newsletter, and they may differ according to individual situations. The publisher does not assume liability for financial decisions based on the newsletter's contents. Great care has been taken to ensure the accuracy of the newsletter copy at press time; however, markets and tax information can change suddenly. Whole or partial reproduction of Let's Talk Money® without the written permission of the publisher is forbidden. ©LTM Publishing, Inc., 2013.
We Value Your Input... Your feedback is very important to us. If you have any questions about any of the subjects covered here, or suggestions for future issues, please don't hesitate to call. It's always a pleasure to hear from you.
This is an advertisement prepared by LTM Publishing, Inc. for the use of the sender. Articles are not written or produced by the named representative. The advertisement provided is not intended as legal or tax advice and may not be relied on for purposes of avoiding federal tax penalties. All individuals, including those involved in the estate planning process, are advised to meet with their tax and legal professionals. The individual sponsoring this newsletter will work with your tax and legal advisors to help select appropriate product solutions. We do not endorse or guarantee the content or services of any website mentioned in this newsletter. We encourage you to review the privacy policy of each website you visit. Limitations, restrictions and other rules and regulations apply to many of the financial and insurance products and concepts presented in this newsletter, and they may differ according to individual situations. The publisher does not assume liability for financial decisions based on the newsletter's contents. Great care has been taken to ensure the accuracy of the newsletter copy at press time; however, markets and tax information can change suddenly. Whole or partial reproduction of Let's Talk Money® without the written permission of the publisher is forbidden. ©LTM Publishing, Inc., 2013.
We Value Your Input... Your feedback is very important to us. If you have any questions about any of the subjects covered here, or suggestions for future issues, please don't hesitate to call. It's always a pleasure to hear from you.
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