As with disability income insurance
, definitions of disability vary widely, from inability to engage in one's "own occupation," to inability to perform the duties of "any other occupation" for which one is reasonably suited.
Since long-term care coverage is a newer coverage than health insurance and disability income insurance
, it is offered by fewer employers.
"It is dear from these findings that employer awareness of the features and benefits of disability income insurance
* to identify the unique characteristics and risks involved with individual disability income insurance
This is a type of disability income insurance
that protects the small business owner if the business has to be closed as a result of disability.
Clients need to know that disability income insurance
is important because it provides income replacement to continue paying bills and everyday living expenses if a person becomes too sick or injured to work.
When comparing individual disability income insurance
policies, keep the following in mind:
Larry Schneider clearly loves disability income insurance
. This book is a compilation of his columns in Broker World, sales ideas (including back-of-napkin thoughts), disability split-dollar thoughts and more.
Its decision to leave the market was made after an extensive review of the business and decided to focus on its core life and disability income insurance
business, he said.
Today, the disability income insurance
market is concentrated in a handful of companies that write most of the business.
Symetra's four operating segments are group, which includes medical stop-loss insurance and group life, accidental death and dismemberment and disability income insurance
to employers; retirement services, which includes fixed and variable deferred annuities and group annuities to various qualified retirement plans; income annuities; and individual, which includes term, universal and variable life insurance.
Business overhead expense insurance is intended to help maintain the business; it is not intended to replace disability income insurance
(see chart, page 259) or disability buy-out insurance (see discussion, page 403).