For your clients who are doctors, their ability to earn a living hinges on one crucial factor: their health. After years of education and training, a doctor’s skills are not just their livelihood—they’re a significant financial investment. But what happens if an injury or illness prevents your doctor client from working? That’s where disability insurance comes in, offering a financial safety net when life takes an unexpected turn.
Last week, Mass Mutual announced disability income insurance occupation class upgrades that may lower premiums and increase monthly benefit amounts. The company also announced new underwriting enhancements that could open opportunities for clients who previously had challenges qualifying for coverage.
Choosing the right Business Overhead Expense (BOE) policy can help keep your clients business open following a disability. BOE is a unique disability insurance product, focused on keeping a business open following a disability. Specifically, BOE covers a business’s operational expenses if a business owner is unable to work due to an illness or injury. When selecting a BOE insurance policy, it’s important for your client to carefully assess their business’s operating costs and risks. Some factors to consider include:
The student loan rider should be considered for added peace of mind when buying a disability insurance policy. Disability insurance is a crucial financial safety net for many individuals, particularly those who rely on their income to manage daily expenses and long-term commitments. For many professionals, student loans often represent a significant financial obligation. A student loan rider on a disability insurance policy offers peace of mind because it ensures that loan payments are covered in the event of a disability. However, like any financial decision, adding this rider to a policy comes with both advantages and drawbacks.
When purchasing a disability insurance policy, one of the most important aspects to understand is how the term “disability” is defined. This definition forms the basis of when benefits are payable and what criteria you must meet to qualify for those benefits. Different policies use various definitions of disability, and these distinctions can have significant implications for your coverage, the duration of benefits, and the overall value of your policy.
When considering disability insurance, most people think of coverage for physical injuries or illnesses that prevent them from working. However, mental and nervous disorders (MNDs) also play a significant role in an individual’s ability to maintain employment. The Social Security Administration reports that 35% of disability insurance beneficiaries are due to MNDs. With the increasing awareness of mental health, the importance of understanding how disability insurance covers MNDs cannot be overstated.
In the dynamic world of business, ensuring continuity and stability is essential. This is especially important when unforeseen circumstances arise. For business owners, one critical aspect of this stability is having a well-structured Buy/Sell Disability Insurance policy. This type of insurance is designed to safeguard a business’s operations and ownership structure if a key partner or owner becomes disabled and is unable to contribute to the business. Let’s dive into what Buy/Sell Disability Insurance is and why it’s a crucial component for business owners.
No one ever wants to file a disability insurance claim. However, having the proper income protection before you need it will offer peace of mind at claim time. Filing a disability income insurance claim can seem daunting but with the right information and preparation, the process can be manageable. Here’s a comprehensive guide to help you navigate through the steps needed to file your claim effectively.
Disability income insurance before and after pregnancy is a frequent topic we’re asked about. Advisors and clients have questions if pregnancy is covered by disability insurance and when benefits might be payable. Sarah A. from Team dibrokerWest recently sat down with Jed Poland, Regional Director of Sales to answer many common questions.
Your disability income insurance sales pitch should always start by showing the need for DI. While insurance agents and financial advisors know DI, the typical consumer has probably never heard of disability insurance and therefore doesn’t understand it’s value.
