Disability income insurance

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Disability income insurance

An insurance policy that insures a worker in the event of an occupational mishap resulting in disability. Insurance benefits compensate the injured worker for lost pay.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Disability Income Insurance

In the United States, a program, run by the Social Security Administration, that provides for the lost income of individuals who become disabled for an extended period of time. Persons who have paid enough of the FICA tax for a long enough period of time are eligible for Social Security Disability Income Insurance. Payments begin at the start of the sixth month of a person's disability. The amount of the benefit varies according to a number of factors.
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References in periodicals archive ?
Listen as a panel of distinguished professionals and thought leaders organized by The Knowledge Group bring the audience to a road beyond the basics of Disability Insurance Claims, with an emphasis on cost-containment, practical approaches, and workable solutions.
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"Your income and ability to work are your most valuable assets, no matter what career phase you are in," says Larry Schneider, founder of the Disability Insurance Resource Center, who has worked as a broker in the field since 1972.
Additionally, when employers were asked whether they currently make voluntary Accident and Disability insurance available to their workers, 36% say that they do not offer voluntary Accident and 27% report that they do not offer voluntary Disability policies.
While the Affordable Care Act will bring profound changes to health insurance with regard to pre-existing conditions, the legislation has no bearing on disability insurance.
"How to Sell Disability Insurance" even includes a Life Insurance Selling piece Larry authored, titled, "What have you got against DI?" It talks about the reasons good planners need to address the subject.
If you pay for disability insurance with your own after-tax dollars, your benefits will be tax free.
Let's look at three types of prospects you're likely to encounter when presenting disability insurance, as well as advice and insight from experts to help you overcome their objections and close more sales.
This will significantly contribute in improving the financial situation of the fund and will put things in order of each subject to pay contributions for pension and disability insurance.
However, two kinds of insurance that many people should consider, says Altfest, are disability insurance and long-term care insurance.
Two major writers of disability insurance announced in November new disability income insurance products to benefit small-business owners.

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